Expectations of a change in political direction: As Trump's campaign momentum grows stronger, the market generally expects that his victory will promote the legalization of cryptocurrencies. This expectation has attracted a large amount of off-market funds to wait for an opportunity, as if foreshadowing that BTC is about to usher in its true first year.
Recognition by global investment institutions: The CEO of BlackRock, a world-renowned investment institution, publicly stated that Bitcoin, as an asset class that transcends global politics, does not depend on who is in the White House. This view undoubtedly adds a strong touch to the global investment prospects of Bitcoin.
Expectations of loose monetary policy: Expectations of interest rate cuts by the Federal Reserve are growing, and this signal is undoubtedly a clear operation for the financial market. Loose monetary policy often means more liquidity, and in the process of seeking high returns, some of this liquidity is likely to flow into the Bitcoin market.
Subtle changes in market sentiment: The Mt. Gox token crash, which had attracted much attention, has recently been postponed to next year. This change has undoubtedly injected a dose of stabilizer into market sentiment, reduced market panic, and enabled investors to view the future of Bitcoin more rationally.
Wealth effect within the cryptocurrency circle: In addition, the continuous emergence of meme coins within the cryptocurrency circle and the huge wealth effect they bring have further stimulated the enthusiasm of investors. This rapid appreciation of wealth has undoubtedly provided a continuous source of power for the continued popularity of the Bitcoin market.
To sum up, the surge in BTC is not accidental, but the result of the combined effect of multiple factors.
