Interest Rate Cuts and Election Speculation Set to Boost Bitcoin Prices, Claims WonderFi CEO
Bitcoin (BTC) recently achieved an all-time high of over 100,000 Canadian dollars, currently priced around $69,447.
Dean Skurka, CEO of WonderFi, predicts that upcoming interest rate cuts in Canada and the U.S., along with the 2024 U.S. Presidential election, will drive Bitcoin’s price higher in the next six to twenty-four months.
He highlighted the Bank of Canada’s recent 50-basis-point cut and the U.S. Federal Reserve’s ongoing rate reductions as catalysts for attracting retail and institutional investors.
Skurka believes these trends reflect a global shift toward lower interest rates, enhancing the digital asset ecosystem’s appeal.
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Here is What’s Behind Bitcoin’s Success, According to Crypto ExpertAdditionally, he noted that while a potential Trump presidency might benefit the crypto sector, Bitcoin’s long-term growth is expected regardless of the election outcome, with advocacy efforts likely leading to a more favorable regulatory environment.
He views the combination of these factors and substantial Bitcoin ETF inflows as setting a positive trajectory for Bitcoin in the coming years.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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