Bitcoin Expected to Continue Wild Ride Until US Election
CryptoNewsTerminal Staff04 Sep, 2024
Bitcoin Expected to Continue Wild Ride Until US Election
Bitcoin's price has been on a wild ride lately, and experts say it's likely to continue until after the US election. In a recent report, cryptocurrency service provider Matrixport said that Bitcoin's price has shown great volatility, fluctuating close to 40% over the past month. This volatility is expected to continue, the report said, as political and economic uncertainty, such as the upcoming US presidential election and the Federal Reserve's interest rate decision, could lead to a period of consolidation with repeated swings of over 10%. So, what does this mean for investors? If you're thinking about buying Bitcoin, it's important to be prepared for the possibility of continued volatility. This means only investing what you can afford to lose, and being prepared to hold on to your investment for the long term.
