3 Reasons Why A Bitcoin All-Time High Before The Election Is Back In Play
Portfolio Pulse from Ivan Crnogatić
Bitcoin may reach an all-time high before the U.S. presidential election due to factors like a steepening U.S. Treasury yield curve, growing interest in Bitcoin spot ETFs, and increasing odds of a Trump victory. Standard Chartered's Geoff Kendrick suggests these elements could drive Bitcoin's price to its previous peak of $73,800.
October 15, 2024 | 3:02 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Bitcoin's price could reach its previous peak of $73,800 due to a steepening U.S. Treasury yield curve, increased interest in Bitcoin spot ETFs, and higher odds of a Trump victory in the upcoming election.
The steepening U.S. Treasury yield curve suggests market volatility, which can drive investors to Bitcoin as a hedge. The significant inflows into Bitcoin spot ETFs indicate strong institutional interest, potentially pushing prices higher. Additionally, political factors, such as Trump's increasing election odds, could further boost Bitcoin's momentum.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100