The ever-changing world of crypto assets could be poised for substantial growth, as market experts at cryptocurrency channel Our Crypto Talk believe. announcer an unprecedented super-bullish phase for the industry, driven by a convergence of significant global developments. One of the main issues is the adoption of cryptocurrency assets during the impending US presidential election, scheduled for November 4 this year.
Crypto Industry on Path to Substantial Growth
According to the channel, crypto is currently so big that it is playing a role in the US presidential elections. For this reason, new investors and holders are excited about the magnitude of the boost the industry is receiving, which begs the question: “Do you have enough in your bag?” »
Analysts noted that the market has seen a notable price rise over the past 3 weeks, with Ethereum seeing a 25% surge ahead of the approval of its spot exchange-traded funds (ETFs). Several encouraging factors, such as former US President Donald TrumpEndorsement by Bitcoin and other digital assets is driving this uptrend.
It is worth noting that Trump has recently consistently declared his support for digital currencies, accepting donations for his campaign in the form of these assets. This move by Trump marks a major step in the adoption of these assets, as it is the first time a major government figure has openly supported them.
He also promised to create a safer regulatory landscape for currencies by keeping anti-crypto figures like the US senator. Elizabeth Warren move away from it, to stimulate innovation in the country. Given Trump’s status as a major presidential candidate, his involvement tends to lend more legitimacy to the market.
The channel further pointed out that Trump’s pro-crypto stance may be an attempt to attract young enthusiasts to the industry. By accepting contributions in digital currency, his campaign could gain more support from people who only care about this one issue, which could have a significant political impact.
Given the obvious disparities between Trump’s position and that of outgoing US President Joe Biden, the channel says assets emerge as an important political issue. So it will be fascinating to see how Biden responds to this situation, given his position, which could further energize this rally.
Overall, this growing importance of digital assets in politics has the potential to impact voters’ choices and provide additional legitimacy to the party. walk.
Market Sentiment Will Drive Massive Prices
Our Crypto Talk also discussed the substantial gains these developments could generate for digital coins, particularly Bitcoin. According to the channel, a cup and handle pattern has formed on the Bitcoin chart, suggesting that $116,000 could be a possible price target.
This trend indicates a significant upward trend in the price of Bitcoin and reinforces the bullish sentiment surrounding the market due to crypto’s presence in this year’s US presidential elections.
However, Bitcoin dominance is currently slipping below major resistance levels. As a result, the chain expects the momentum to shift towards Altcoin, which would cause BTC to rise as much in the next leg, if not more.
Featured image of Adobe Stock, chart from Tradingview.com
