Bitcoin price would be influenced by the upcoming elections in the United States

Galaxy Digital CEO Mike Novogratz noted this weekend that the price of Bitcoin could range between $55,000 and $75,000, influenced by the upcoming elections in the United States and the interest rate cut by the SEC

According to the CEO of Galaxy Digital, Mike Novogratz, the cryptocurrency could fluctuate between $55,000 and $75,000 until the presidential elections in the United States and the cut in interest rates by the SEC, given the slowdown in inflation.

These two factors will be key in setting the value of the main cryptocurrency on the market, which faces acceptance by Donald Trump and rejection by some Democrats.

The increase in the adoption of digital currencies is generating distrust in a sector of American authorities and politicians. However, on the other hand, they are seen as a friendly mechanism by another sector of public life in the United States.

Novogratz believes “that the US presidential elections could be crucial for the future regulator of cryptocurrencies, depending on whether or not Democrats maintain an anti-cryptocurrency stance. The Biden administration recently signaled that it would veto a rule that requires crypto companies to record their customers’ holdings as liabilities.”

M.Pino

Source: cripto247

(Reference image source: John Paul Cuvinar in Unsplash)

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