The post Will the US Election Impact on Crypto Market Push Bitcoin to $80K? appeared on BitcoinEthereumNews.com.

The US election result and the Fed Interest rate cut have influenced the entire crypto market positively, especially the Bitcoin market. Since November 5, the BTC market has seen a growth of 12.78%. A crypto analyst, in a recent post on X, suggests that the Bitcoin price will touch $80K level next week. How? Curious to know? Dive in!  Bitcoin Price Target of $80,000 Predicted  In the last 30 days, Bitcoin has grown by 25.9%. Many believe that the Bitcoin market has not yet reached its peak. The analyst’s post predicts that the BTC price will reach the level of $80,000 within the next week. This is why #Bitcoin goes so much higher from here and I see 80k next week. Very little realized profit being taken compared to previous ATHs. BTC is below the inflation adjusted ATH, its consolidated for 9 months, investors want more. What is wild, we are seeing less… pic.twitter.com/PXRwExAft9 — James Van Straten (@btcjvs) November 8, 2024 Low Profit-Taking Signals Investor Confidence  Generally, investors tend to take profits when they feel that their assets have peaked. If they choose to hold instead, it could suggest further growth potential. The Bitcoin Net Realised Profit/Loss chart shows that current levels of profit-taking are significantly lower compared to prior highs.  Bitcoin Below Inflation-Adjusted All-Time High  The crypto analyst also points out that the current price of Bitcoin is far lower than its inflation-adjusted ATH. This also indicates that the BTC market has the potential to grow further.  Bitcoin Consolidates for Nine Months  The crypto analyst highlights that the Bitcoin market has been in a consolidation phase for the last nine months. The analyst asserts that the consolidation of Bitcoin has strengthened the foundation of the asset. Many think that the stability gained by Bitcoin during the consolidation phase…

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Filed under: News - @ November 9, 2024 7:18 am