Bitcoin 's decline has not stopped, falling sharply to $57,800 around 10 o'clock earlier, hitting the lowest price in nearly two months. The current price at the time of writing is US$58,755, down 4.22% in the past 24 hours. Is the wash-out over? Whether it will fall below the pre-May low of $56,555 remains to be seen. 
The entire network liquidated US$300 million in the past 24 hours
Bitcoin continues to decline. According to Coinglass data , in the past 24 hours, the amount of cryptocurrency liquidation across the entire network has exceeded 300 million US dollars (long positions accounted for 280 million US dollars), and more than 110,000 people have been liquidated (at 9 o'clock this morning Only close to 90,000 people).
Standard Chartered Bank: Bitcoin will hit $100,000 by election day
However, although the currency market has not yet rebounded significantly, Geoffrey Kendrick, head of the foreign exchange and digital asset research department of Standard Chartered Bank, pointed out in a latest report this week that Bitcoin may hit a record high again in August this year (Bitcoin hit a record high in March this year) hitting an all-time high of $73,000 in March) and then hitting $100,000 on U.S. election day:
As the U.S. election approaches in November, BTC prices are likely to reach new highs in August and then exceed $100,000 on U.S. election day.
Kendrick explained that the reason for his prediction depends on whether Biden decides to remain in the race:
The market interprets this as an increase in the likelihood of Trump being elected, an outcome that will be beneficial to Bitcoin because Trump’s victory may lead to a more friendly regulatory environment for cryptocurrencies.
Extended reading: Biden’s disastrous poll: 70% of voters do not trust him to be president again, and the meme currency $BODEN plummeted 95% from its historical high.
Galaxy Digital: Whoever is elected will be good for cryptocurrencies
Different from Standard Chartered Bank’s judgment, Galaxy Digital CEO Mike Novogratz predicted that no matter who wins this year’s election, U.S. cryptocurrencies will receive favorable regulation in the future.
Novogratz first said that the cryptocurrency industry needs bipartisan support in the future:
Cryptocurrency should be a bipartisan issue and we cannot have one party supporting it and the other opposing it.
Secondly, Novogratz also said that although cryptocurrency is currently opposed by some officials, most American politicians tend to support the innovation of cryptocurrency:
With the exception of a few, most Democrats support innovation and cryptocurrencies, and positive cryptocurrency legislation is inevitable no matter who wins the election.
