External factors could influence the rise in the price of bitcoin
Analysts in the cryptocurrency sector evaluate the factors that may influence an upward trend in the value of bitcoin, such as inflation, reduction of interest rates in the United States, in addition to the presidential elections in November
A recent report by 10xResearch analyzes the factors that may influence a sustained increase in the price of bitcoin, the main cryptocurrency in the market.
According to Markus Thielen, founder of said platform, there is a key focus on the payment of FTX, where the offer of between $5,000 and $8,000 million could “trigger a bullish sentiment in the price of bitcoin”.
On the other hand, it mentions a possible rebound in risk assets as a result of the US Federal Reserve adjusting the level of the S&P 500, which could lead to further interest rate cuts. Given this possibility, investors would be anticipating an adjustment in their portfolios by 2025.
Additional factors such as rising inflation and the US elections in November may also influence the upward trend in the price of bitcoin. In any case, the 10xResearch report warns investors to remain alert regarding the repetition of the pattern of rises and falls in the value of the cryptocurrency since March of this year in order to make their price and trading predictions at the lowest risk.
M.Pino
Source: cryptonews
(Reference image source: Unsplash, in collaboration with Getty Images)
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