CandleFocus Bitcoin Set To Gain If Trump Wins, JPMorgan Cites ‘Debasement Trade’ As Key Factor
2024-11-01
Author: Content Editor
JPMorgan analysts suggest that a win for Donald Trump in the US presidential election could lead to further increases in the price of Bitcoin (BTC) and gold. Retail investors are increasingly turning to Bitcoin as a strategy to protect their purchasing power against the erosion of fiat currencies caused by money printing. Bitcoin exchange-traded funds (ETFs) have seen significant inflows, with $1.3 billion in the past two days alone. However, institutional investors have slowed down on BTC futures activity, potentially introducing vulnerability for BTC's near-term outlook. The analysts note that credit and prediction markets lean towards a Trump win, which could result in additional upside for Bitcoin and gold prices.
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