CFO | Future Publishing | Getty Images
Bitcoin Hit a two-week high on Monday as betting markets point to increasing chances of crypto-friendly candidate winning Donald Trump in the U.S. presidential election.
According to statistics, the value of Bitcoin, the world’s largest cryptocurrency, rose 6% to $63,594.39. Coin Gecko.
assembly follow dramatic assassination attempt About the former president Saturday.
“This is ‘similar’ to 1981 when President Ronald Reagan was shot,” although that was not an election year, Ben Emons, chief investment officer at FedWatch Advisors, said in an email.
“After the incident, Reagan’s approval rating soared in a double-dip recession. But the S&P 500 fell 9% due to the economic downturn. But in the current strong economy, former President Trump’s favorability rating may It will soar and have a positive impact on the market.”
investor say on the weekend They expect trade to get a boost from the so-called Trump victory. These trades expanded to include various cryptocurrency stocks such as Coinbase Global and miners Anti-riot platformup 4.5% and 5.25% respectively in pre-market trading.
Zach Pandl, director of research at Grayscale Investments, told CNBC via email: “Bitcoin prices rose about 9% over the weekend, which may indicate that investors expect President Trump to create a more favorable regulatory environment for the cryptocurrency industry.
Trump has yet to make any detailed proposals for cryptocurrency regulation, but the Republican candidate is now seen as broadly supportive of the industry — despite his past skepticism. He will speak at a major annual Bitcoin conference later this month.
Trump campaign Start accepting donations May comes from the crypto industry and his Messaging becomes increasingly active About the future of such digital assets. he also sought set oneself against Democrats such as Sen. Elizabeth Warren favor controls on the industry.
Bitcoin.
“In addition, macro policy changes during Trump’s second term as president—including continued deficit spending, declining U.S. leadership in international affairs, diminished Fed independence, and a desire for a weaker currency to help shrink the trade deficit— There are medium-term risks to the dollar that could pose downside risks.
Last month, Standard Chartered analysts Talk about the US presidential election is the next key catalyst for Bitcoin prices, with a Trump victory likely to push Bitcoin prices to $150,000 by the end of the year.
“Cryptocurrencies have not had it easy in recent months. We are currently in the midst of a downturn in previously booming capital inflow markets, as measured by stablecoin capitalization, which has increased over the past two years. It’s already frozen mid-month,” said market analyst Grzegorz Drozdz. Conotoxia told CNBC via email.
As the likelihood of a Trump presidential election increases and the likelihood of unrest and instability in the United States decreases, Drozdz now believes a potential “influx of market confidence” could have a positive impact on cryptocurrencies and Bitcoin in the coming weeks. positive influence.
