FalconX: The current price of BTC is not affected by the probability of Trump's election, but it will still be dominated by the election results
According to an analysis by cryptocurrency brokerage firm FalconX, recent fluctuations in Bitcoin prices have not shown a clear correlation with the probability of Republican candidate Trump's election. The specific analysis found that from June 1st to August 15th, there was no clear trend between the three-day change in Bitcoin price and the three-day change in the odds of the Republican candidate winning; Factors affecting Bitcoin prices include expectations for U.S. monetary policy, oversupply and other macroeconomic factors, not just dependent on Trump's election probability; For example, sales by the government of Saxony and concerns about supply from Mt.Gox creditors have both constrained Bitcoin prices. However, FalconX stated that as the U.S. election approaches, election results may become a dominant factor in Bitcoin prices. But so far, election information is not a major driver of bitcoin prices.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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