Trading Diary 10.29
This time BTC broke through 71000
There are many positive factors in this bull market
Besides BTC ETF and the favorable U.S. presidential election
But compared to the liquidity-driven bull market of 2021
I feel it's quite different
First, the extent of interest rate cuts
The actual inflow of funds is not much
It might take a drop to around 1% before a large influx of liquidity arrives
The reason it has risen to this point, I think, may involve many factors
In addition to the U.S. presidential election and BTC ETF mentioned above
Yen borrowing and arbitrage traders are also a significant factor
Interest rate cuts are said to stimulate capital inflow
But to be honest, it just provided a clear stance
The real capital inflow driving this surge
Might be prompted by the election
Trump has participated in BTC conferences
And even said BTC to the moon
Now that Trump's chances of winning have significantly increased
We can also expect favorable conditions for BTC
The price of coins, similar to stock prices, tends to react in advance
I need to guard against a collapse after the presidential election
This round is unlike the liquidity-driven bull market because there is no large capital influx
But the election is a variable that might genuinely attract large capital inflow
After all, the attitude of the U.S.
Is also the attitude that most countries in the world refer to
If BTC and crypto start to open up
BTC becomes a reserve asset
BTC at least 100,000 USD
But my thoughts are still on the emotional market
It might decline after the election
Or maintain high levels before the election, but whether it can reach 100,000 USD
Still depends on the attitude of the U.S. government after taking office
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