The price of the cryptocurrency reached a three-month high amid information that Donald Trump will win the upcoming election, and the rate of the main digital coin will reach a historic high.
Bitcoin shows positive dynamics, outperforming traditional assets in October. On the morning of October 21, the rate of the largest cryptocurrency was trading around $69,068 This was confirmed by data on the CoinMarketCap website.
Coinmarketcap
A break above $70,000 should be a major bullish signal for the digital currency.
The price of the cryptocurrency reached a three-month high amid information that Donald Trump will win the upcoming election, and the rate of the main digital coin will reach a historic high.
Recent polls and forecasting markets have shown a higher probability of Trump winning over Democratic candidate Kamala Harris. Cryptocurrency prediction market Polymarket showed a 60.7% chance of a Trump winning and a 39.1% chance of a Harris winning.
Trump is campaigning primarily in support of cryptocurrencies, promising to build the future of Bitcoin in America. His campaign is also accepting donations in cryptocurrencies.
Note that Bitcoin stopped falling on August 7. The cryptocurrency moved to a slight increase after a sharp decline.
We remind you that in January the United States took an important step towards legalizing Bitcoin. The SEC allowed fund industry heavyweights BlackRock, Invesco and Fidelity to compete with smaller rivals including Valkyrie to begin trading. After that, the price of the cryptocurrency began to rise rapidly.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.