Price Bitcoin: Interest Rate Cut, 2024 US Elections, and US Economic Data

Bittime - Matrixport said that a combination of monetary policy signals by the Federal Reserve, dynamics of the US presidential election, and important economic data will be the key factors influence Bitcoin price soon.

Decreasing Interest Rates and Bitcoin Prices

Federal Reserve Chairman Jerome Powell recently hinted at the possibility of an interest rate cut in the near future. This could provide a positive signal for Bitcoin. 

With the potential for monetary easing, Bitcoin is often considered an attractive asset for investors looking for a hedge against inflation. 

Typically, falling interest rates typically drive more liquidity into the market, which often has a positive impact on the price of riskier assets like Bitcoin.

Also Read: Trump's Victory and Federal Reserve Chairman's Speech Affecting Bitcoin Prices?

2024 US Election Momentum and Bitcoin Price

In addition to signals from the Federal Reserve, the momentum of the US presidential election is also expected influence Bitcoin price movements. The policies promoted by selected candidates can have a direct impact on financial markets. 

This time, the debate between main candidates such as Kamala Harris and Donald Trump is the main focus. As election day approaches, market volatility is predicted to increase, which could impact the price of Bitcoin.

US Economic Data and Bitcoin Prices

Not only political factors, there will also be economic data that will be released in the next few weeks influence Bitcoin price. US economic data often provides a picture of overall economic conditions and can influence Federal Reserve decisions regarding its monetary policy. 

If the data shows a decline, there is a strong possibility that the Federal Reserve will be more inclined to loosen its monetary policy, which could benefit Bitcoin.

Also Read: Bitcoin Price Has the Potential to Breakout in October 2024

How to Buy Crypto with Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. over is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Monitor graphic movement price Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.