Post - Election Uptrend in Crypto?
The interest rate cuts have been initiated, the deposit accounts are getting less profitable for the safest investment lovers. As the money is deposited in the almost riskless investment types, the positivities are likely to affect the interest rates (by going lower) and the flow of liquid money in the markets.
The hard landing does not seem to take place and the recession is not a profound narrative to scare the markets in the current sentiment. Ongoing slight uptrends and the beyond - expected fiscal earnings are two good things for the whole global market. However, when we flip the coin, we encounter the uncertainties in the Asian markets, the risk of recession in the Chinese economy, and the presidential election in the U.S.
Now, investors want to see who will be the chosen president of the U.S. because both of the nominees have made different statements about their support for different industries. For example, the crypto market firmly buys the narrative that Trump will be in favor of us because he knows what crypto is and he collects votes from crypto investors with his statements. On the other hand, Kamala is seen as non - crypto friendly or she keeps her distance from crypto to be viral in the country.
Apart from crypto, there are other industries such as electric cars, and renewable energy sources and even the scope is as wide as the direct support to the sides of wars in the globe! While the things are not clear and the markets enjoy manipulating such times, the turbulence may continue.
Though there is not so much to the date of election, we may see deeper drops in the prices. While Bitcoin stays resilient, altcoins have no sign of trend reversal or strength in the current overview. If the risk lovers decide to hunt cheap altcoins, they may keep the support levels strong with their buy orders. Yet, if the bulls do not want to take unnecessarily high risks, they can collect cheaper crypto through the end of the year.
It is obvious that all the world will be affected by the result of the election; for the crypto market, the last quarter of the year may not be super bullish but 2025 holds a better potential in the market cycle.
I am considering adding some more cheap altcoins that do not break the support line. The SUI ecosystem is one of my targets, the Hive ecosystem is already number one!
What do you think about the influence of elections on the crypto market?
Share your thoughts below 👇
Hive On ✌️
Posted Using InLeo Alpha