A Donald Trump Win Could Be Seen As Bullish, Harris Victory As Bearish For Crypto: Bernstein
Portfolio Pulse from Murtuza Merchant
A Bernstein report suggests that a Donald Trump victory in the upcoming U.S. presidential election would be bullish for crypto assets, while a Kamala Harris win would be bearish. Polymarket, a crypto-based prediction market, shows Harris leading Trump by 6%. The crypto market, particularly Bitcoin, has shown weakness with Bitcoin unable to reclaim its previous highs. The Trump campaign's pro-crypto stance contrasts with the uncertainty surrounding Harris's approach to crypto regulation.
August 12, 2024 | 4:13 pm
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Bitcoin's price is currently influenced by the U.S. presidential election, with a Trump victory seen as bullish and a Harris win as bearish. Polymarket odds show Harris leading, coinciding with Bitcoin's recent price weakness.
The report highlights a direct correlation between the U.S. presidential election outcomes and Bitcoin's price movements. A Trump victory is expected to be bullish due to his pro-crypto stance, while a Harris win introduces regulatory uncertainty, seen as bearish. Current Polymarket odds favor Harris, aligning with Bitcoin's recent price weakness.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100