Bitcoin started October weakly, but several factors might positively influence its price.
Donald Trump's Political Prospects
According to Polymarket data, Donald Trump is leading in the upcoming elections with a 54.1% chance of winning. His support for cryptocurrencies could benefit Bitcoin prices.
Analysts predict that if Trump wins, BTC's value could reach $90,000.
China's Expected Economic Support
The Chinese government might announce additional stimulus to revive the economy, potentially leading to increased investment in Bitcoin.
US Federal Reserve's Interest Rate Policies
Recent US Federal Reserve meeting minutes show a high likelihood of a 25 basis point rate cut, which might increase liquidity flow into the BTC ecosystem.
These positive developments in the Bitcoin market could create favorable conditions for new investments. Monitoring China's support measures and US policies is crucial.