According to market observers, Bitcoin (BTC) could see a significant price increase in the coming months. Analysts and cryptocurrency enthusiasts highlight five main catalysts in Altcoin Daily’s latest video analysis. These five factors increase the likelihood of Bitcoin reaching new highs.
Fed Interest Rate Cut Expectation
The US Federal Reserve (Fed) is expected to lower interest rates in the coming months. The 25 basis point cut, which could start in September, may reach 75 basis points by the end of the year. Historically, low interest rates support markets, and Bitcoin is positively affected by this trend. Analysts expect the largest cryptocurrency to rise based on this situation.
Kamala Harris and Cryptocurrency Policies
As the 2024 elections approach, potential changes in US political leadership could positively impact Bitcoin’s price. Currently, Vice President Kamala Harris may offer favorable policies towards crypto to attract voters.
Although not a strong supporter of crypto, Harris’s positive statements and promises could reduce regulatory barriers and increase market confidence. As a result, Bitcoin’s price could rise.
Donald Trump’s Support for Crypto
Former President Donald Trump’s positive statements about Bitcoin also create an optimistic atmosphere in the markets. If Trump is re-elected, his policies could increase institutional investments in Bitcoin. Some analysts predict that in this scenario, Bitcoin could rise to $150,000.
Institutional Support
One of the world’s largest asset management companies, BlackRock’s move towards spot Bitcoin ETFs indicates Wall Street’s growing interest in crypto. Investments by financial giants like BlackRock and Goldman Sachs in Bitcoin contribute to increased institutional acceptance and the long-term growth of Bitcoin. If this trend continues, the price of the cryptocurrency king is expected to reach new highs.
Wealth Effect and Altcoin Season
Along with all these factors, the rise in Bitcoin’s price could create a wealth effect for the overall cryptocurrency market, and analysts expect altcoins to benefit from this. Historically, when Bitcoin’s price rises, altcoins like Ethereum (ETH) also tend to increase.
This cycle could encourage new investors to enter the market and existing investors to diversify their portfolios, further boosting the cryptocurrency market.
