US Election Prediction: How U.S Presidential Election Results Will Impact Bitcoin Price

This election season has garnered significant attention due to the prominent involvement of crypto betting platforms, with Polymarket standing out as a notable example. Presently, a strong majority of Polymarket bettors are expressing their support for Republican candidate Donald Trump, favoring him over Democratic candidate Kamala Harris.

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US Election Prediction

As of now, a significant majority of Polymarket bettors, constituting at least 60.1%, believe that Trump will emerge victorious in the US presidential election, in contrast to 40% who are supporting Kamala Harris. Additionally, the bettors predict that Trump will secure wins in at least four out of the six swing states, namely Arizona, Georgia, Nevada, and Pennsylvania.

The global is pay great attention to the crucial US presidential election. However, GCR, a renowned crypto trader and analyst, pointed out that crypto betting platforms like Polymarket might not be able to correctly predict the odds of right-wing candidates.

This indicates that the odds for Trump may be overstated. Reports show that Trump’s odds on Polymarket could be artificially high, with around 30% of pro-Trump bets potentially ‘fake’ trades.

How U.S Presidential Election Results Will Impact Bitcoin Price

Bitcoin, the oldest cryptocurrency, would witness could see big changes in its price based on whether Donald Trump or Kamala Harris wins the presidential election. According to famous crypto analyst, it is suggested that the election result could either drive Bitcoin quickly toward its $100,000 target or cause a temporary drop, highlighting how the crypto market is closely tied to this political event.

Bitcoin Price Prediction If Trump Wins

According to crypto analyst Miles Deutscher, the upcoming U.S. election could have a “short-term impact on crypto sentiment,” especially on Bitcoin’s price. Currently around $68,550, Bitcoin has seen some fluctuations recently, dropping from last week’s seven-month high of over $73,000.

He believes that Trump’s pro-business policies and potential regulatory easing for cryptocurrencies could pave the way for a more conducive environment for Bitcoin and the broader cryptocurrency market. As a result, both Bitcoin and altcoins could witness a more rapid surge in prices.

Deutscher suggests that a Trump victory could spark an immediate surge in Bitcoin’s price, potentially propelling it to a new all-time high (ATH) of approximately $100,000 by the end of this year.

Deutscher remains optimistic that Trump’s approach could establish a stronger foundation for Bitcoin’s growth, enabling it to capitalize on an overall increase in demand and investor interest.

Bitcoin Price Prediction If Harris Wins

On the contrary, if Kamala Harris wins, Bitcoin might experience an immediate decline, followed by a slower and more gradual recovery. Deutscher anticipates that this scenario could postpone Bitcoin’s attainment of a new all-time high until the first quarter of 2025.

Deutscher believes that a Harris-led administration might impose stricter regulatory oversight, potentially impeding Bitcoin’s growth in the short term.

However, Deutscher remains positive about Bitcoin’s future outlook, stressing that even under a Harris administration, Bitcoin’s path to $100,000 is still likely—though it might take a bit longer to reach this target.

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About Bitcoin (BTC)

Cryptocurrency	Bitcoin
Token	BTC
Price	$ 92213.0900 1.94%
Rank	1
Market Cap	$ 1,824.4B
24H Trading Volume	$ 89.5B
All-time High	$ 93888.9000
All-time Low	$ 0.0500
24 High	$ 93836.9400
24 Low	$ 90406.0600
Cycle High	$ 92374.1000 / 2024-11-19 23:57:58
Cycle Low	$ 91350.0000 / 2024-11-19 22:38:13
Update Time	2024-11-20 00:01:01

Invented in 2009 by an anonymous developer or group of developers using the name Satoshi Nakamoto, Bitcoin (BTC) is world’s first cryptocurrency with the largest market capitalization.

Bitcoin is back in business and crossed $70,000 for the first time in four months. The bulls have weathered months of volatility and declining prices since Bitcoin reached a new all-time high in March. However, Bitcoin now faces a perfect storm: rate-cutting cycles, unprecedented inflows into spot ETFs, and a growing likelihood of a Trump presidency.

With the coming of US election, BTC is expected to see massive price rally. Leveraging its established network, limited supply, and growing institutional adoption, Bitcoin is still a relatively safe haven in the volatile crypto market, with predictions of a rally to $100,000.

The following sets forth the BTC to USD Price Chart.

Bitcoin Chart

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