Trump’s Victory and the Federal Reserve Chairman's Speech Affect Bitcoin Price?

Bittime - Recently, the attention of crypto players has focused on two things that are believed to be possible influence Bitcoin price, Donald Trump's dominance in election polls and the speech that will be delivered by the Chairman of the Federal Reserve, Jerome Powell.

Trump Leads Election Polls

According to Matrixport, Donald Trump is currently leading in several election polls, ahead of Kamala Harris.  Trump's increasingly strong position in this election is attracting crypto investors. 

Trump is known to be more open to Bitcoin compared to other politicians. This also sparked speculation that his victory could bring fresh air to the crypto market.

For Bitcoin supporters, Trump's victory could be seen as an opportunity to strengthen Bitcoin in the eyes of the public and regulators. Although there has been no concrete policy announced by Trump regarding Bitcoin, his positive attitude towards Bitcoin could have a positive influence.

Read Also: Trump's Victory in the 2024 US Election Could Push Bitcoin Prices Up?

Price Bitcoin Left Behind

Source: Twitter.com/Matrixport

Meanwhile, the technology stock market, represented by the Nasdaq, has experienced a significant rebound since the flash crash on August 5. Technology stocks have seen a surge, but Bitcoin price has not been able to keep up with this positive trend. 

Bitcoin's lag has raised questions among investors about the factors that could trigger a recovery in the price of this digital asset.

In recent weeks, Bitcoin has tended to move in a consolidation pattern. Prices move within a limited range without showing a clear trend. 

Some analysts argue that political and economic uncertainty, including developments related to Trump and the Federal Reserve's monetary policy, may influence these dynamics.

Powell's speech Influence Bitcoin Price?

One of the things that crypto players are most looking forward to is the speech that will be delivered by Jerome Powell, Chairman of the Federal Reserve. This speech is expected to provide clues regarding the direction of US monetary policy. 

If Powell gives any indication that interest rates will remain low, this could trigger a surge in Bitcoin prices. In this context, the market sees Powell's speech as a key moment that could narrow the gap between the performance of Bitcoin and the Nasdaq.

A speech from the chairman of the Federal Reserve is usually considered a positive catalyst for risky assets like Bitcoin, as low interest rates can encourage investors to look for more profitable investment alternatives.

Read Also: Trump's Support for Crypto Could Potentially Make Him Win the 2024 US Election!

How to Buy Crypto with Bittime

You can buy and sell crypto assets in an easy and safe way through Bittime. over is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Monitor graphic movement price Bitcoin (BTC), Ethereum (ETH), Solana (SUN) and other cryptos to find out today's crypto market trends in real-time on Bittime.