bullish

Bitcoin

Impact

when

<ul class="wp-block-list">
 <li>Bitcoin rose 12.78% since Nov 5, driven by US election results and Fed rate cut, reaching a 30-day gain of 25.9%.</li>  
 <li>Analysts predict BTC may hit $80K soon; profit-taking remains low, hinting at possible further growth.</li>  
 <li>Bitcoin’s nine-month consolidation phase has built a strong foundation, with Q4 historically favorable for gains.</li> 
</ul>  
<p>The US election results, coupled with a recent interest rate cut from the Federal Reserve, have had a notable impact on the cryptocurrency market, particularly on Bitcoin. Since November 5, Bitcoin has experienced a growth of 12.78 percent, creating an optimistic outlook among investors and analysts alike.&nbsp;</p>  
<p>Consequently, this significant shift reflects how macroeconomic factors continue to influence the crypto market. Now, as some predict a short-term rally, industry experts are keeping a close eye on Bitcoin’s long-term stability and potential peak.</p>  
<h2 class="wp-block-heading" id="h-market-analysts-anticipate-further-gains-as-btc-nears-80k"><strong>Market Analysts Anticipate Further Gains as BTC Nears $80K</strong></h2>  
<p>Recently, a crypto analyst posted on X, forecasting that Bitcoin’s price will soon reach the $80,000 mark. If this prediction materializes, it would represent a substantial milestone in Bitcoin’s recent rally.&nbsp;</p>  
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  https://twitter.com/btcjvs/status/1855005951608471568
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<p>Notably, over the last 30 days, Bitcoin has already posted an impressive gain of 25.9 percent. While such an upswing typically leads to profit-taking among investors, many appear to be holding onto their assets, potentially indicating further upward momentum.&nbsp;</p>  
<p>In addition, according to the Bitcoin Net Realized Profit/Loss chart, current levels of profit-taking are still below prior market highs. This could imply that many investors believe Bitcoin has room to climb before reaching its peak, encouraging further price gains in the near term.</p>  
<h2 class="wp-block-heading" id="h-consolidation-phase-may-strengthen-market-foundation"><strong>Consolidation Phase May Strengthen Market Foundation</strong></h2>  
<p>Furthermore, for much of the past nine months, Bitcoin has remained in a consolidation phase. During this period, the cryptocurrency has traded within a narrower price range, creating a more stable foundation.&nbsp;</p>  
<p>Subsequently, this extended phase of stability may have enhanced investor confidence and allowed Bitcoin to build momentum for a potential bullish breakout. As Bitcoin progresses through the second year of its current four-year cycle, it may benefit from historical patterns that point to a stronger performance in the coming years.&nbsp;</p>  
<p>Historically, while the second and fourth years of a Bitcoin cycle are weaker, recent quarterly trends suggest an upward trajectory. In the fourth quarter of 2024 alone, Bitcoin has already reported a return of 11.2 percent, signaling possible resilience.</p>  
<h2 class="wp-block-heading" id="h-q4-proves-favorable-for-bitcoin-historically"><strong>Q4 Proves Favorable for Bitcoin Historically</strong></h2>  
<p>Historically, the fourth quarter <a href="https://cryptonewsland.com/bitcoin-outperforms-traditional-assets-in-q4-driven-by/" target="_blank" rel="noopener noreferrer nofollow">has been</a> positive for Bitcoin’s performance, which supports current optimistic projections. Last year, the cryptocurrency posted a fourth-quarter return of 56.6 percent, encouraging investors to anticipate another strong close this year.&nbsp;</p>  
<p>After a challenging second quarter, when Bitcoin slipped by 12 percent, the market saw modest recovery with a return of 0.76 percent in the third quarter. The start of the fourth quarter marked a notable improvement, as Bitcoin quickly rebounded, reaching $70,251.50 by November 1 before dipping slightly and then climbing again in early November.</p> 
<p>The post <a href="https://cryptonewsland.com/could-the-us-elections-impact-on-the-crypto-market-drive-bitcoin-to-80k/" rel="noopener noreferrer nofollow">Could the US Election’s Impact on the Crypto Market Drive Bitcoin to $80K?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Could the US Election’s Impact on the Crypto Market Drive Bitcoin to $80K?

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