Jeffrey Ding, chief analyst of HashKey Group, analyzed that on the betting market Polymarket, Trump's chances of winning have risen sharply to 90%. At the same time, the price of Bitcoin has also ushered in a historic breakthrough, rising above 75,000 USDT in a short period of time, with a daily increase of more than 8%. This phenomenon shows that the market's expectations for Trump's election are turning into positive investment sentiment for Bitcoin. Trump's market continues to strengthen, indicating that Bitcoin may enter the fast lane of rapid growth.
It can be seen that the surge in Trump's election probability has been regarded as the "starting gun" of the cryptocurrency market. It is expected that the digital currency market will continue to digest this good news until Trump moves into the White House. A series of policies that Trump promised during the campaign to support cryptocurrencies, including the inclusion of Bitcoin in the national reserve and the removal of current SEC Chairman Gary Gensler, are all seen as major positives for the market. Given that Trump is known for "keeping his campaign promises," we have reason to expect these policies to be gradually implemented after he takes office.
The expectation of the implementation of these policies, coupled with the high probability of Trump's election, has provided strong support for the price increase of Bitcoin and other cryptocurrencies. Market participants generally believe that Trump's victory is more beneficial to the cryptocurrency industry than Kamala Harris of the Democratic Party. Therefore, as the probability of Trump's election rises, the market performance of Bitcoin and other cryptocurrencies is worth looking forward to, and investors should pay close attention to relevant policy trends and their impact on the market.
