Bitcoin's Soaring Price Linked to Trump's Odds of Winning U.S. Presidential Election on Prediction Markets

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Cointime2024/11/04 16:12

By:Cointime

Bitcoin has been experiencing a surge in value, coinciding with an increase in Trump's chances of winning the upcoming US presidential election, according to prediction markets such as PredictIt and Polymarket. On the same day that Bitcoin reached $73,000, Trump's odds of winning on Polymarket rose to 69%, the highest level since June's failed assassination attempt. Some analysts believe that Bitcoin's recent strength may be due to investors preparing for a potential Trump victory, while others suggest that the recent strength of US stocks and the dollar may also be linked to Trump wagers. This phenomenon is known as the "Trump Trade" and has gained significant attention in the media and financial reports.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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