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
What’s going on with restaking?
A deep review of EigenLayer's journey in restaking: the pitfalls encountered and the achievements of EigenDA have all paved the way for the new direction of EigenCloud.
Is the 69 million FDV + JUP staking exclusive pool HumidiFi public sale worth participating in?
An overview of tokenomics and public offering regulations.
Why is the short seller who made $580,000 now more optimistic about ETH?
The truth behind Bitcoin's overnight 9% surge: Is December the turning point for the crypto market?
Bitcoin strongly rebounded by 6.8% on December 3 to $92,000, while Ethereum surged 8% to break through $3,000, with mid- and small-cap tokens seeing even larger gains. The market rally was driven by multiple factors, including expectations of a Federal Reserve rate cut, Ethereum’s technical upgrades, and policy shifts. Summary generated by Mars AI. This summary was produced by the Mars AI model, and the accuracy and completeness of its content are still in the process of iterative updates.
Trending news
MoreCrypto prices
More
