BTC to Rally in Coming Weeks on Trump Win, Fed Rate Cut

IconCryptoNewsTerminal Staff02 Aug, 2024

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BTC to Rally in Coming Weeks on Trump Win, Fed Rate Cut

The cryptocurrency market could experience a bull run in the coming weeks due to expectations of a Donald Trump victory in the upcoming U.S. presidential election and a rate cut by the U.S. Federal Reserve in the fourth quarter, according to a report from crypto services provider Matrixport. Trump's recent appearance at a Nashville Bitcoin event and his stated crypto-friendly policies are likely to reduce regulatory uncertainty and encourage innovation in the cryptocurrency space. A Trump victory and a Fed rate cut would create a favorable environment for Bitcoin and other cryptocurrencies, leading to a potential rally in their prices.