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The U.S. Election's Impact on Crypto – Will a Trump Win Pump Bitcoin?
The post The U.S. Election's Impact on Crypto – Will a Trump Win Pump Bitcoin? appeared on BitcoinEthereumNews.com. The cryptocurrency markets are closely following the U.S. presidential election, as the outcome is expected to have a significant influence on the price of Bitcoin and other major cryptocurrencies, at least in the short term. With Donald Trump firmly positioning himself as a pro-crypto candidate, the crypto market would likely benefit from a boost if he wins. Key highlights: National polling data suggests a very tight race between Donald Trump and Kamala Harris. Prediction markets such as Polymarket and Kalshi are heavily favoring Donald Trump. Trump has embraced Bitcoin and crypto, which is why many are expecting a crypto market rally if he wins. Harris has barely mentioned Bitcoin and crypto, and her comments on the subject have been vague. The crypto industry has likely overstated the importance of crypto to U.S. citizens and politicians – the elections might not have a very big impact on the long-term prospects of Bitcoin and other cryptocurrencies. The election is likely to be extremely close The latest polling data shows that the two candidates are in an extremely tight race – For example, FiveThirtyEight is giving Harris a 48% chance and Trump a 46.8% chance based on national polling averages. Meanwhile, prediction markets are quite heavily slanted towards Trump. Bettors on Polymarket are currently giving Trump a 61% chance, while Harris is at 39%. Bettors on Kalshi are giving a 58% chance to Trump and a 42% chance to Harris. In general, we can expect positive price action in the cryptocurrency markets in the event of a Trump victory, as the Republican candidate has embraced the cryptocurrency industry and has made several positive comments on Bitcoin, including plans to expand Bitcoin mining in the United States. From a long term perspective, Bitcoin has performed well following U.S. elections, although the sample size is…
The post The U.S. Election's Impact on Crypto – Will a Trump Win Pump Bitcoin? appeared on BitcoinEthereumNews.com.
The cryptocurrency markets are closely following the U.S. presidential election, as the outcome is expected to have a significant influence on the price of Bitcoin and other major cryptocurrencies, at least in the short term. With Donald Trump firmly positioning himself as a pro-crypto candidate, the crypto market would likely benefit from a boost if he wins. Key highlights: National polling data suggests a very tight race between Donald Trump and Kamala Harris. Prediction markets such as Polymarket and Kalshi are heavily favoring Donald Trump. Trump has embraced Bitcoin and crypto, which is why many are expecting a crypto market rally if he wins. Harris has barely mentioned Bitcoin and crypto, and her comments on the subject have been vague. The crypto industry has likely overstated the importance of crypto to U.S. citizens and politicians – the elections might not have a very big impact on the long-term prospects of Bitcoin and other cryptocurrencies. The election is likely to be extremely close The latest polling data shows that the two candidates are in an extremely tight race – For example, FiveThirtyEight is giving Harris a 48% chance and Trump a 46.8% chance based on national polling averages. Meanwhile, prediction markets are quite heavily slanted towards Trump. Bettors on Polymarket are currently giving Trump a 61% chance, while Harris is at 39%. Bettors on Kalshi are giving a 58% chance to Trump and a 42% chance to Harris. In general, we can expect positive price action in the cryptocurrency markets in the event of a Trump victory, as the Republican candidate has embraced the cryptocurrency industry and has made several positive comments on Bitcoin, including plans to expand Bitcoin mining in the United States. From a long term perspective, Bitcoin has performed well following U.S. elections, although the sample size is…
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