If Bitcoin wants to break through 7W3, it needs these three factors to boost it!

1: US election, as long as the Democratic Party does not win a big victory

The US election has a great impact on the cryptocurrency industry. Many people think that Trump is friendly to cryptocurrency, while Harris is not very friendly. But in fact, the Democratic Party’s attitude towards cryptocurrency is not one-sided. There are those who are not very supportive of cryptocurrency, such as Elizabeth Warren, and those who are supportive, such as Ritchie Torres.

In the past four years, the entire industry has not been easy because Democrats who are not very supportive of cryptocurrency have controlled policies. But if the Democratic Party does not win a big victory in the election, their attitude towards cryptocurrency may become more neutral.

Now, even Democrats who were not optimistic about cryptocurrency before have begun to admit that cryptocurrency is an inevitable trend. This change in attitude may cause the price of Bitcoin to rise to $80,000.

2: 2 interest rate cuts and global economic flooding

Despite the growth of the US economy, the Federal Reserve has lowered interest rates and China has launched an economic stimulus plan, all of which have caused the price of cryptocurrency to rise. The market is now looking forward to more stimulus measures. It is predicted that the Federal Reserve may reduce interest rates again before the end of the year, and China may also launch new stimulus policies.

If these predictions come true, the cryptocurrency market may rebound in the fourth quarter.

3: No major "black swan" events in the currency circle

For the price of Bitcoin to reach a new high of $80,000, we need to avoid several risks: no major hacker attacks, no new large-scale lawsuits, and no large number of previously locked tokens suddenly flooding into the market. Bankrupt exchanges like Mt. Gox and governments releasing Bitcoin have caused market fluctuations. If these shocks can be avoided before the end of the year, Bitcoin is expected to hit a new high.