As a seasoned researcher with extensive experience in following the cryptocurrency market and its correlation with global events, I find Wednesday’s price action to be a stark reminder of the volatile nature of this asset class. The sudden plunge of Bitcoin (BTC) below $64,000, alongside the decline in U.S. equity prices and mounting speculation about the presidential election race, left me feeling a sense of déjà vu.
The cryptocurrency market experienced losses once more on Wednesday, coinciding with a downturn in the US stock market and intensifying conjecture regarding the upcoming presidential election.
The price movements occurred as U.S. stocks struggled to recover from significant losses earlier in the week. The technology-heavy Nasdaq 100 index slipped by 1%, while the widely-followed S&P 500 index fell by 0.7%.
The uncertainty surrounding the upcoming U.S. presidential election has significantly increased in the past few hours due to rumors that influential party members are urging President Biden against running for re-election.
Intriguing developments have emerged in the crypto prediction market Polymarket. Currently, traders estimate an approximate 80% likelihood that Joe Biden will withdraw from the presidential race, marking a significant increase from the 40% probability reported just a day prior. Conversely, Vice President Kamala Harris’ odds of becoming the Democratic nominee have surged to approximately 63%, up from a mere 15% the previous day.
The probability of Republican nominee Donald Trump winning according to Polymarket dipped slightly to 65%, down from a peak of 70% following his survival of an assassination attempt the previous week.
As a crypto investor, I’ve observed an uptick in digital asset prices over the last week. This surge can be partially attributed to my belief that Donald Trump’s chances of reelection have grown stronger. Consequently, I anticipate a more crypto-friendly administration under his potential second term, which further bolsters my confidence in investing in this space.
Read More
- W PREDICTION. W cryptocurrency
- PENDLE PREDICTION. PENDLE cryptocurrency
- AEVO PREDICTION. AEVO cryptocurrency
- AAVE PREDICTION. AAVE cryptocurrency
- REF PREDICTION. REF cryptocurrency
- LAZIO PREDICTION. LAZIO cryptocurrency
- PROM PREDICTION. PROM cryptocurrency
- ETC PREDICTION. ETC cryptocurrency
- CEL PREDICTION. CEL cryptocurrency
- VR PREDICTION. VR cryptocurrency
2024-07-18 19:57