GSR research analyst Toe Bautista has stated that the cryptocurrency market is currently in a wait-and-see mode. However, he remains optimistic about Bitcoin’s indestructibility, regardless of the election outcome. From the perspective of altcoins, many project parties are waiting for opportunities to assess the situation of other token issuances and the election results.
The U.S. Securities and Exchange Commission’s potential lawsuits against tokens in the next two months have deterred project parties from issuing coins. Bautista predicts that if macro conditions remain favorable, Bitcoin prices may rise further, potentially reaching $80,000 in the first or second quarter of next year.
