TechFlow news, on November 5, GSR research analyst Toe Bautista said the entire cryptocurrency market is also in a wait-and-see state. But the good news is, he believes Bitcoin is "unbreakable" regardless of who wins.
Bautista pointed out that from an altcoin perspective, many crypto companies are waiting to observe both other token launches and election outcomes. He stated, "When project teams don't know whether their tokens might be sued by the U.S. Securities and Exchange Commission (SEC) within two months of launch, few are willing to issue tokens now. If Trump wins and fulfills his promise to remove SEC Chair Gary Gensler, it could reduce regulatory risks and increase the expected value of crypto projects."
Regarding Bitcoin's price, Bautista believes the likelihood of reaching a new all-time high in the fourth quarter is low, though he does not rule out the possibility of breaking $80,000. He expects Bitcoin could see further gains in the first and second quarters of 2025 if macro conditions remain favorable.
