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The price of Bitcoin rose as Trump leads in the polls.

The price of Bitcoin rose as Trump leads in the polls.

19.10.2024 09:20

The price of Bitcoin rose above $68,000 as Donald Trump took the lead in critical states in the U.S. presidential election. The cryptocurrency market gained 2% in value due to the impact of Trump's potential to win the elections.

The price of the cryptocurrency Bitcoin has risen above $68,000 as Donald Trump appears to be leading in critical states in polls for the presidential election in the U.S., while the total value of the global cryptocurrency market has increased by 2%.

TRUMP BOOST FOR CRYPTOCURRENCIES

According to data from the analysis company Coinmarketcap, the total value of the global cryptocurrency market, including Bitcoin, has increased by 2% in the last 24 hours, surpassing $2 trillion. Analysts indicate that the likelihood of Trump winning the elections in the U.S. has positively impacted the cryptocurrency markets due to supportive views on cryptocurrencies.

TRUMP LEADS IN POLLS

According to recent polls conducted in the U.S., Republican candidate Trump is slightly ahead of his Democratic rival Kamala Harris in 6 out of the 7 critical states that are decisive in the presidential race. Due to the system known as the "Electoral College," Trump is seen to be ahead of Harris by 0.7 points based on the average of polls in the 7 swing states that are of critical importance.

DO CRYPTOCURRENCIES WANT TRUMP?

Analysts share the view that if Harris is elected president, she would be more restrictive towards cryptocurrencies, and some investors are concerned about this. As of 21:15, Bitcoin, which has seen a 2.7% increase in price over the last 24 hours, has risen to $68,664. Ethereum, which ranks second in market value, has increased by 2.6% in the last 24 hours, reaching $2,651. Global markets faced significant selling pressure on the first trading day of the week due to rapidly strengthening recession fears in the U.S. and developments in the Asian markets.



 
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