Cryptocurrency market It may gain new momentum depending on global macroeconomic developments. In the latest analysis made by QCP Capital’s official channel, it was stated that the easing policies of central banks around the world and crypto-friendly policies in the US may move cryptocurrency prices upwards. Currently, due to the lack of significant macroeconomic catalysts in the US, Bitcoin $63,645It was stated that it fluctuated between 62 thousand and 64 thousand dollars.
Crypto Supporters Are Prominent in US Presidential Elections
QCP Capitalstated that the presidential election process in the US could directly affect the cryptocurrency market. Last night, US Vice President Kamala Harrisreiterated his support for cryptocurrencies and reiterated his commitment to making the US a global leader in the fields of “artificial intelligence, quantum computing and Blockchain.”
Harris on her economic plan crypto moneyThis statement was Harris’ second message of support for cryptocurrencies this week. However, other presidential candidates Donald Trump is also a full supporter of cryptocurrencies. This situation is considered to be a positive development for the country’s cryptocurrency ecosystem, regardless of which candidate the US election results turn out in favor of.
Global Liquidity Expected to Increase
According to QCP Capital, globally Central banksThe country’s transition to monetary easing policies could provide a significant amount of liquidity to the market. It is anticipated that this situation could cause prices to move upwards in many financial asset classes, especially cryptocurrencies.
QCP Capital analysts believe that the combination of crypto-friendly rhetoric in the US and the increase in global liquidity will create a positive atmosphere in the markets.
Markets are now looking at the Fed Chair Jerome Powell‘s speech to be given today at around 16:20. It is stated that the speech is of critical importance for the markets. In particular, Powell’s speech will closely monitor whether the easing signals he expressed at the FOMC press conference held last week will be repeated. Powell’s messages are seen as an important indicator that can determine the future course of the markets.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
