CandleFocus Markets Locked in on US Elections! Will Bitcoin Rise Continue? Here Are Analysts' Views
2024-11-04
Author: Content Editor
Bitcoin investors are predicting increased market volatility in light of the upcoming US Election Day. The 30-day indicator of Bitcoin volatility has reached its highest point since August, signaling sharp price swings ahead. Options pricing suggests potential moves of up to 8% immediately following the election, compared to the usual daily swing of around 2%. While the market expects a rapid resolution, there is uncertainty due to the close voting among the candidates. The competition between Donald Trump and Kamala Harris has heightened traders' interest, with Trump's pro-crypto stance previously pushing Bitcoin higher. However, his odds have narrowed recently, causing a slight pullback. Traders remain divided, with projected post-election trading range of $60,000 to $80,000. Bitcoin has had a strong performance this year, gaining over 60% and outperforming stocks and gold.
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