November 5, 2024

The election has reached its most critical day, and by tomorrow noon, the results will basically be settled. It is worth noting that Trump's vote count is currently a bit behind, although the voting results from several key states have yet to come out, the situation does not look as optimistic as before. In fact, for the crypto world, it is unknown how many crypto-friendly policies Trump’s election would fulfill, but Harris's election would certainly be worse.

Regarding the market, the trend of Bitcoin is also quite tense, with the support level at 67-68000 being temporarily held. Regardless of the election results, Bitcoin's volatility may not be significant, as what the market often fears may not happen. Additionally, the US stock market has not shown any particularly remarkable trends, but the actual situation still needs to wait for the election results. We can witness together this most suspenseful presidential campaign so far and experience the atmosphere of democracy.

In recent days, Ethereum has led some altcoins to drop significantly, but I wonder if everyone has noticed that DOGE has performed quite strongly. If not for the bet on Trump winning the election, it would mean some funds are starting to actively lean towards capital. In fact, recently, some funds have also begun to position for a bull market, but the situation for retail investors is still uncertain as to when it will reverse; we still need to wait for a while.

The key to this wave is Bitcoin. The previous adjustment down to the 49000 point low can be confirmed as the lowest point of this round of adjustment, but whether there will be a wide adjustment at a high point remains unknown. Considering the election results, I believe that if Trump is elected, there will be a short-term attempt to reach new highs, followed by a FOMO-induced large pullback to cleanse the bulls, and finally, after the adjustment, the grand bull market will begin.

Thank you for your attention and likes.