GSR Analyst: The election will not overly affect BTC, and several undistributed project teams are waiting for the election results

ChainCatcher news, according to Blockworks, GSR research analyst Toe Bautista stated that the entire cryptocurrency market is also in a wait-and-see mode. But the good news is that he believes Bitcoin is "unbreakable" regardless of who wins.

The analyst mentioned that from the perspective of altcoins, many project teams have been waiting for the right moment, observing the issuance of other tokens and the election results. When project teams are unsure whether the tokens they plan to deploy will be sued by the U.S. Securities and Exchange Commission within two months, not many are willing to issue tokens right now.

However, this has not stopped him from being optimistic about the outlook for the first and second quarters of next year. Toe Bautista believes that if macro conditions remain favorable, the price of Bitcoin could rise further. "It's easy to foresee Bitcoin reaching $80,000, whether in Q1 of next year or by the end of the month."