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<p>Doctor Profit provided insights into<a href="https://captainaltcoin.com/is-bitcoin-price-ready-to-skyrocket-analyst-predicts-this-falling-wedge-could-push-btc-to-72k/" target="_blank" rel="noopener noreferrer nofollow"> the current decline of Bitcoin</a>, which has dropped more than 5% over the last three days. As the U.S. presidential election approaches on November 5, the analyst connects this price movement to the potential election victory of Kamala Harris.</p>
<p>Doctor Profit highlights that Bitcoin had printed a new higher high just a month ago, surpassing its previous peak of $65,000. This upward movement seemingly countered the bearish narrative that many analysts had been promoting.</p>
<p>However, he notes that <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin is currently about 8.8% below </a>its peak from earlier in the week. He considers this a healthy correction following a significant rally.</p>
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<p><a href="https://x.com/DrProfitCrypto/status/1853082558709289041" target="_blank" rel="noopener noreferrer nofollow">The analyst emphasizes</a> that the recent market downturn is largely due to investors beginning to price in the implications of a possible Harris win. He suggests that while a victory for Harris might not be bullish for Bitcoin in the short term, the scenario would be much more favorable if Donald Trump were to win.</p>
<p>According to Doctor Profit, historical trends indicate that election outcomes do not alter the Federal Reserve’s ongoing commitment to monetary expansion, regardless of the presidential victor.</p>
<p>In terms of market dynamics, Doctor Profit points out that rumors of <a href="https://yellowcard.io/blog/what-is-crypto-otc-how-does-it-work/" target="_blank" rel="noopener noreferrer nofollow">over-the-counter (OTC) desks</a> running out of Bitcoin are likely accurate. He notes that many OTC desks have been reaching out to buy BTC, indicating a tightening supply in that market segment.</p>
<p>Additionally, he critiques CryptoQuant for potentially manipulating reported numbers regarding OTC desk balances, claiming that their figures do not accurately reflect the current situation.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/elite-analyst-predicts-ripple-xrp-price-is-about-to-go-insane/" target="_blank" rel="noopener noreferrer nofollow">Elite Analyst Predicts Ripple (XRP) Price Is About To Go Insane</a></em></strong></p>
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<h2 class="wp-block-heading" id="a-possible-btc-price-decline-to-65k">A Possible BTC Price Decline to $65k</h2>
<p>As for trading strategies, the analyst mentions that he has set long orders around the $65,000 mark, anticipating a possible retest of this level if fear-driven events or sharp market fluctuations occur. He remains optimistic about holding long positions from previous lower levels and warns that the upcoming week may be highly volatile.</p>
<p>In summary, the crypto analyst Doctor Profit conveys a message of cautious optimism. While short-term challenges may arise from the political landscape, he maintains that the broader trend for Bitcoin remains upward in the medium to long term.</p>
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<p>The post <a href="https://captainaltcoin.com/top-analyst-links-bitcoin-btc-price-decline-to-possible-kamala-harris-election-victory-predicts-further-lows/" rel="noopener noreferrer nofollow">Top Analyst Links Bitcoin (BTC) Price Decline to Possible Kamala Harris Election Victory, Predicts Further Lows</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Top Analyst Links Bitcoin (BTC) Price Decline to Possible Kamala Harris Election Victory, Predicts Further Lows

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