Bitcoin prices may see a crazy rise due to the US election
Recently, Geoffrey Kendrick, head of foreign exchange and digital asset research at Standard Chartered Bank, made a shocking statement: "With the US election approaching, I boldly predict that the price of Bitcoin will soar to $100,000! If Trump can be successfully elected, it will even soar to $150,000 by the end of the year!" He also pointed out: "Although the Biden administration has shown a pragmatic side in the recent approval of the spot Ethereum ETF, Biden's subsequent veto of the abolition of SAB121 has made Trump relatively more friendly to it."
Data shows that since January, the reserves of Bitcoin miners and exchanges have decreased dramatically, by a full 183,253 BTC! In the 158 days since the beginning of this year, the number of Bitcoins held by exchanges and miners has decreased sharply, as if the floodgates have been opened, and almost $13 billion worth of funds have quietly left their joint wallets. Among them, about 90.95% of Bitcoin withdrawals came from cryptocurrency exchange reserves, and about 9.05% (that is, 16,578 BTC, worth $1.17 billion) were quietly withdrawn from the collective addresses of current BTC miners.
Bitfinex analysts claimed: "Historical data shows that Bitcoin usually reaches a new all-time high (ATH) several months after the halving event. We speculate that the market top may appear around the fourth quarter of 2024. Bitfinex analysts predict that Bitcoin will be able to reach at least $120,000 in the current cycle
