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【GSR analyst: Bitcoin price fluctuations are mainly driven by emotions, not fundamentals】 October 12, GSR analysts said that Bitcoin's unpredictable price fluctuations are mainly driven by emotions rather than fundamentals. The monetary policies of the Federal Reserve and the Bank of Japan are worth paying attention to, and the economic data or market information data to be released in the United States are also worth paying attention to. The United States is moving towards a mild landing, and GSR believes that this is a positive catalyst for cryptocurrencies. Another factor that may put pressure on Bitcoin is the US government's possible sale of nearly 69,000 bitcoins - worth about $4.2 billion - that were seized from the Silk Road market. The U.S. Supreme Court recently decided to refuse to hear an appeal, paving the way for this. GSR analyst Brian Rudick warned investors not to ignore the potential impact. "This may put some downward pressure on the market," Rudick said. Market observers are now focusing on four key factors that may affect Bitcoin prices: the U.S. election, the monetary policies of central banks of various countries, the U.S. economy and the sale of bitcoins confiscated by the U.S. government in the Silk Road case. (DL News)
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