Market Analysis by Investing.com (Calogero Selvaggio) covering: Bitcoin. Read Investing.com (Calogero Selvaggio)'s Market Analysis on Investing.com
Kennedy Jr. and Donald Trump have both voiced strong support for Bitcoin, proposing significant strategic and regulatory changes.
However, recent political developments indicate that the case for a long-term bull market in Bitcoin remains intact despite the short-term headwinds.As the U.S. presidential race intensifies, Bitcoin could significantly influence its dynamics. Independent candidate Robert F. Kennedy Jr. has voiced strong support for Bitcoin, proposing executive orders to transfer the 204,000 Bitcoins held by the U.S.
Moreover, the daily chart below indicates a potential Reversal Head and Shoulders pattern, which could lead to new all-time highs. The coming weeks might be pivotal, as Bitcoin's natural volatility could confirm this bullish outlook for the next 12 months.
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