Trump Victory in the 2024 US Election Could Push Bitcoin Prices Up?
2024-08-20
Bittime - Bernstein Research provides an outlook on how the results of the upcoming United States Presidential Election could have a significant impact on the crypto market, especially Bitcoin.
If Trump Wins 2024 US Election
Bernstein Research stated that the results of the US Presidential Election could influence Bitcoin price movements. If Trump is elected, this could trigger a downward phase in Bitcoin prices, followed by a significant price increase.
Trump's victory will be interpreted by the crypto market as a positive signal for crypto policy, especially because Republican Party policies tend to be friendlier towards the crypto industry.
Bernstein Research also highlights that the crypto market is currently still in a relatively stable price range. In a situation like this, the prospect of a Trump victory is considered a factor that could change market dynamics and push Bitcoin out of its stagnant price range.
Read Also: Trump Raises $21 Million in Campaign Funds at 2024 Bitcoin Conference
Polymarket Predictions 2024 US Election Results
Polymarket, a crypto market prediction platform, also noted the tight competition between Trump and Kamala Harris. In recent days, Trump's shares on Polymarket have increased after negative reactions to Harris' economic announcements.
However, Harris managed to regain the lead with a 51% chance compared to 47% for Trump. This tight competition shows that the election results could very seriously influence crypto market sentiment, including Bitcoin prices.
Bitcoin Price Prediction
In this uncertain political and economic climate, the results of the 2024 US Election are seen as a factor that could significantly change the direction of the crypto market.
Donald Trump's victory, as predicted by Bernstein Research, could be the trigger that brings Bitcoin prices to their lowest point before finally experiencing a revival.
Read Also: Will Trump's Policy Further Support the Development of the Crypto Industry?
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