Jeff Park, the head of alpha strategy at crypto asset management firm Bitwise, combined market conditions and probability to predict that if Trump wins the U.S. presidential election in November, the price of Bitcoin may rise to $92,000. Geoff Kendrick, head of global digital asset research at Standard Chartered Bank, also believes the election will affect the price of the coin. He said that Bitcoin could approach $73,000 on November 5th, the day of the U.S. presidential election. If the Republican Party sweeps Congress, BTC will reach $125,000 by the end of the year. Even if Harris wins, BTC will reach $75,000 by the end of the year.
Currently, Trump’s support rate is at 52%, and Harris’s is at 45%. As a staunch supporter of Trump, Elon Musk has contributed $75 million to the campaign and launched a shocking reward event on October 19th – randomly awarding $1 million to a supporter of Trump’s bill every day until the election ends. Despite this action being warned by the U.S. Department of Justice, considering that Musk’s actions may violate federal election law, Musk still insists on distributing the $1 million reward.
Perhaps influenced by the performance of Bitcoin supporter Trump and Dogecoin supporter Musk in the election, the prices of Bitcoin and Dogecoin have both rebounded significantly from before. The current price of Bitcoin is fluctuating around $67,000, and after Dogecoin’s price surged to around $0.15 on October 21st, it is now fluctuating around $0.138. Dogecoin miners have also returned to the top of the mining profit ranking list due to the recovery of Dogecoin prices.
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