Analysis: The reaction of BTC to Trump's election as president is harder to gauge, and the "Trump trade" seems to have cooled off

2024-11-03 23:06:19

Collection

ChainCatcher news, according to China Fund News, the "Trump trade" seems to have cooled down, and the virtual currency market is once again "bleeding." Previously, analysts pointed out that the rise in cryptocurrency was related to multiple news stimuli. Among them, Trump's polling surpassing Harris was the biggest stimulating factor. Given Trump's high enthusiasm for the crypto industry, during the campaign, the crypto industry spent a significant amount of money to promote its agenda, and Bitcoin was also referred to as the "Trump trade." As Trump leads in the prediction market, Bitcoin also "rose with the tide."

Ed Yardeni of Yardeni Research Inc. wrote in a report: "While Bitcoin may decline if Harris wins the election, the response of Bitcoin to Trump's election as president is harder to gauge. Bitcoin may continue to rise, or considering the increase so far this year, it may experience the typical 'buy the rumor, sell the news' situation."

(Source Link)

Related tags

Trump cryptocurrency market US election

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.