Odaily News Edouard Hindi, chief investment officer at Tyr Capital, said that the price of Bitcoin could surge ahead of the U.S. election on November 5, but a sell-off is likely in the days following the announcement of the election results regardless of who the winner is. "Profit-taking could weigh on the price of Bitcoin in the days following the results, but bargain hunters should see strong support below $60,000," Hindi said, adding that Bitcoin could regain momentum in the medium term and hit new highs in 2024 regardless of the election results. Ryan Lee, chief analyst at Bitget Research, reiterated this view, emphasizing that Bitcoin will grow significantly in the coming week as Americans prepare to go to the polls next Tuesday. "Several factors support Bitcoin's potential rise, especially the Federal Reserve's expected rate cut. The market expects a 25 basis point rate cut on November 7, bringing interest rates to a range of 4.5% to 4.75%, reflecting the need for adjustments to stabilize economic growth," he stressed that the two-day gap between the U.S. election and the Fed's interest rate decision could significantly affect the price of Bitcoin. (The Block)