Famous cryptocurrency analyst PlanB stated that cryptocurrency whales are currently on hold waiting for the outcome of an important event that is expected to happen soon.
US Elections and Bitcoin
PlanB, Bitcoin 
$62,036He argues that , despite the volatile price movement over the last eight months, is in a bull market. With the United States preparing for the presidential elections in November, the catalyst for a new uptrend in Bitcoin is on the horizon.
Whales’ Waiting
PlanB stated that cryptocurrency whales prefer to act depending on the results of the US elections. The analyst interpreted the approach as they preferred not to take risks in order to provide clarity and certainty by waiting a few weeks.
Democratic Candidate Kamala Harris’s Attitude
Last month, it was announced that Democratic presidential candidate Kamala Harris would support the crypto and artificial intelligence industries if she wins in the November elections. But not everyone is convinced that Harris will suddenly change the Democratic party’s normalized approaches to crypto.
PlanB commented: “Bitcoin will find the trigger for the next rise. It makes sense that there are many big buyers waiting for the US elections. “They want to wait a few weeks and get clarity so as not to take risks.” he said.
PlanB notes that Bitcoin has historically experienced major rises following periods of uncertainty, and this cycle is likely to continue after the November elections. Currently, Bitcoin is around $63,500.
Finally, keeping a close eye on these developments and monitoring market movements can help Bitcoin investors make informed decisions.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
