{"id":12947,"date":"2024-10-25T07:11:35","date_gmt":"2024-10-25T07:11:35","guid":{"rendered":"https:\/\/www.btse.com\/blog\/?p=12947"},"modified":"2024-10-25T07:11:35","modified_gmt":"2024-10-25T07:11:35","slug":"its-been-a-long-week-but-things-are-still-looking-up","status":"publish","type":"post","link":"https:\/\/www.btse.com\/blog\/its-been-a-long-week-but-things-are-still-looking-up\/","title":{"rendered":"It\u2019s been a long week…but things are still looking up"},"content":{"rendered":"

Earlier this week Bitcoin and markets as a whole rocketed, fueled by momentum from the upcoming U.S. Presidential Election. Bitcoin was even on the verge of hitting $70k on Monday!\u00a0<\/span><\/p>\n

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Then, some Fed officials hinted this week that they may be done cutting rates, expressing caution and an inclination to wait until more economic data comes out.\u00a0<\/span><\/p>\n

In short, they’re afraid that cutting rates too fast may cause inflation to come back, but at the same time, not cutting rates deep enough could lead to higher unemployment and a potential recession.<\/span><\/p>\n

This caused Bitcoin to drop all the way to $65.5k, though it looks like its price has recovered over the last 24 hours.\u00a0<\/span><\/p>\n

This time around, the resurgence in markets was caused by Tesla’s monster earnings report, in which Elon Musk predicted a 30% rise in car sales next year.\u00a0<\/span><\/p>\n

Tesla’s stock price jumped by 22% from the strong guidance, and markets edged slightly up, with the S&P 500 rising 0.2%, the NASDAQ 100 rising 0.8%, and Bitcoin climbing back up to the $68-69k range.<\/span><\/p>\n

With everything that’s happened this week and continued volatility leading up to the U.S. Presidential Election, we lay out the essentials for you to watch out for:<\/span><\/p>\n

 <\/p>\n

Reasons to be Bullish<\/b><\/span><\/h2>\n