CandleFocus 22 Days to Go for US Election: Analysts Predict Altcoin Season
2024-10-14
Author: Content Editor
The upcoming US presidential election is expected to have a significant impact on the cryptocurrency industry, according to industry experts. Ki Young Ju, CEO of CryptoQuant, believes that certain altcoins have not seen significant growth due to regulatory obstacles, citing the case of Uniswap. Ju suggests that if Uniswap's fee switch mechanism were activated, it could drive up the price of its token, UNI. He also predicts that a Trump victory could lead to new regulations that would allow the fee switch to be implemented. Other analysts are looking at past market patterns to predict an altcoin season, with CRG's analysis suggesting that Bitcoin's current phase resembles the late 2020 cycle. Michaël van de Poppe believes that the altcoin season will begin within the next 15 days. Overall, altcoins could see a strong rally after the election, with some indications pointing towards a Trump victory being favorable for Bitcoin's growth.
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