"Bearish Triggers: US Presidential Election and US Fed Rate Cut"
"Year-end bull market begins as market uncertainty is resolved"
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In an investor note on the 10th, CEO Hugh Gun claimed that Bitcoin, which is currently suffering from a decline due to a number of uncertainties, including the U.S. presidential election and whether the U.S. Federal Reserve will cut interest rates, will overcome the decline and rise significantly for temporary reasons.
In fact, Bitcoin has recently been in a steep decline due to the spread of recession fears in the U.S. Bitcoin, which fell by about 6% last week, touched the $52,000 mark over the weekend and has since rebounded, but it is showing a large gap from the rally in the first half of the year.
“The market hates uncertainty, and there’s too much uncertainty right now,” Hughes said.
General Manager Hugh said that with the end of the US presidential election at the end of the year and the Fed’s announcement of a rate cut, all uncertainties in the market will be resolved, and Bitcoin will rally according to its past patterns. He emphasized that “Bitcoin is simply repeating its past patterns,” and that “Bitcoin’s decline in September was a regular occurrence, and a significant rally will begin in October and November as uncertainties are resolved.”
Bitcoin is trading at $57,592 according to CoinMarketCap at 9:00 am on the 11th.
Reporter Kwon Seung-won ksw@
