CandleFocus Is Bitcoin price following Trump’s betting odds?
2024-10-14
Author: Content Editor
The rising odds of a potential Donald Trump victory in the 2024 U.S. presidential election have been correlated with the increase in Bitcoin's price. Trump's betting odds have been climbing since October 10 and reached 53% as of press time, while Bitcoin's price surged from $60,300 to around $65,000 during the same period. Trump's pro-Bitcoin stance, including accepting Bitcoin for campaign donations and advocating for a deregulated approach to crypto, may be influencing market sentiment. Trump has also opposed the possible rollout of central bank digital currencies. With Bitcoin reclaiming the $65,000 level, there is optimism that it could target the $67,000 to $68,000 range as the next key level if bullish seasonality takes hold.
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