Co-founder of the analytical platform Keith Alan said that the Bitcoin rally will be able to resume only after the new US president is known. In his opinion, at the moment there is no reason for the first cryptocurrency to increase its quotes.
The expert noted that key support levels have stopped working, the market is preparing for high volatility, and technical indicators indicate that Bitcoin won't be able to stay above $70 until the end of the year.
It is the political uncertainty in the US that will put pressure on the crypto market until the end of January 2025. However, by the second quarter of next year Bitcoin will finally be able to resume the upward trend, the analyst is confident.
For the first cryptocurrency and the crypto industry as a whole, it no longer matters much who takes the White House post, since he will be solving the problem of the growing national debt and dealing with other structural difficulties in the American economy, the expert noted.
