Bitcoin recently surged to over 100,000 Canadian dollars, and Dean Skurka, CEO of WonderFi, believes that interest rate cuts in Canada and the US, along with the upcoming 2024 US Presidential election, will further boost Bitcoin's price in the next 6-24 months. Skurka noted the Bank of Canada's recent 50 basis points rate cut and the US Federal Reserve's ongoing program initiated in September 2024, which he argues will draw retail and institutional investors back into the market. He indicated that these developments reflect a broader global trend towards lower interest rates that could revitalize retail interest in digital assets. Additionally, Skurka suggested that the approaching election will be a key driver for Bitcoin pricing as shifts in the regulatory landscape are anticipated post-election, influenced by lobbying efforts. This combination of interest rate adjustments and potential electoral outcomes creates a favorable environment for Bitcoin, with strong institutional interest already observed.

Source 🔗