Bitcoin Expected To Rise Amid Favorable Economic Conditions

According to BlockBeats, on September 20, Standard Chartered Bank analyst Geoff Kendrick predicted that Bitcoin and digital assets will continue to rise following the recent interest rate cut by the Federal Reserve. This upward trend is attributed more to favorable macroeconomic conditions rather than the outcome of the U.S. presidential election. In an email on Thursday, Kendrick noted, 'After the FOMC meeting, digital assets have topped performance charts. Despite Polymarket showing Harris's support rate at 52/47 today, this remains the case.' He attributed this positive performance to macroeconomic drivers beginning to outweigh election-related uncertainties. Kendrick emphasized that the U.S. presidential election's impact on Bitcoin prices is not as significant as it once was. He stated, 'While the U.S. election is important, macro drivers are starting to dominate.' Kendrick mentioned that he is monitoring the difference between short-term and long-term U.S. Treasury yields as an indicator of favorable market conditions for digital assets. 'I have been observing the U.S. 2s10s curve; a steeper U.S. yield curve is beneficial for digital assets,' he added.