Interest Rate Cuts and Election Speculation Set to Boost Bitcoin Prices, Claims WonderFi CEO
Bitcoin (BTC) recently achieved an all-time high of over 100,000 Canadian dollars, currently priced around $69,447.
Dean Skurka, CEO of WonderFi, predicts that upcoming interest rate cuts in Canada and the U.S., along with the 2024 U.S. Presidential election, will drive Bitcoin’s price higher in the next six to twenty-four months.
He highlighted the Bank of Canada’s recent 50-basis-point cut and the U.S. Federal Reserve’s ongoing rate reductions as catalysts for attracting retail and institutional investors.
Skurka believes these trends reflect a global shift toward lower interest rates, enhancing the digital asset ecosystem’s appeal.
READ MORE:
Here is What’s Behind Bitcoin’s Success, According to Crypto ExpertAdditionally, he noted that while a potential Trump presidency might benefit the crypto sector, Bitcoin’s long-term growth is expected regardless of the election outcome, with advocacy efforts likely leading to a more favorable regulatory environment.
He views the combination of these factors and substantial Bitcoin ETF inflows as setting a positive trajectory for Bitcoin in the coming years.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Has the four-year cycle of Bitcoin failed?
The various anomalies in this cycle—including waning sentiment, weakening returns, disrupted rhythms, and institutional dominance—have indeed led the market to intuitively feel that the familiar four-year cycle is no longer effective.
At an internal Nvidia meeting, Jensen Huang admitted: It's too difficult. "If we do well, it's an AI bubble," and "if we fall even slightly short of expectations, the whole world will collapse."
Jensen Huang has rarely admitted that Nvidia is now facing an unsolvable dilemma: if its performance is outstanding, it will be accused of fueling the AI bubble; if its performance disappoints, it will be seen as evidence that the bubble has burst.
After a 1460% Surge: Reassessing the Value Foundation of ZEC
Narratives and sentiment can create myths, but fundamentals determine how far those myths can go.
The demise of a DAT company
The $1 billion Ethereum DAT plan led by Li Lin and others has been shelved due to the bear market, and funds have been returned. This "going with the flow" approach may reflect consideration of investor sentiment.
Trending news
MoreCrypto prices
More
