Election uncertainty may put market certainty on the back burner
In a recent discussion, Jason Yanowitz from Blockworks expressed skepticism about a potential bullish market rally occurring immediately after the upcoming election results. He suggested that the markets may not experience a significant upward movement until January or February, citing increased uncertainty in November and December. Yanowitz noted that election outcomes could be very close, which would likely lead to disputes between political parties. As a historical reference, he reminded listeners that the last election's winner was not declared until days after the polling ended, indicating potential delays this year as well. This uncertainty could cause market activity to stagnate. Furthermore, the SEC continues to crack down on the crypto sector, with companies like Immutable recently receiving Wells notices indicating potential investigations. Despite the high likelihood of lawsuits, such actions could influence market dynamics during this election period.
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