Donald Trump’s Positive Impact on the Cryptocurrency Market

According to Wall Street brokerage firm Bernstein, a Donald Trump victory in the U.S. election could have a positive impact on the cryptocurrency market. Notably, it is observed that Bitcoin has weakened relative to polls and Polymarket odds, which favor Harris. However, Trump’s proactive approach to cryptocurrency policies offers a glimmer of hope for the market.

There is an expectation that a Donald Trump win in November could positively affect the cryptocurrency market. Bernstein, one of Wall Street’s leading brokerage firms, highlighted this situation in a report. The report suggests that if market sentiment shifts in favor of Trump, cryptocurrencies could see an uptick in value. Conversely, a victory by Kamala Harris might have the opposite effect, potentially causing a market downturn.

According to Bernstein’s analysis, the shift in odds and poll results favoring Harris on prediction platforms like Polymarket has led to Bitcoin’s weakness. However, this scenario is considered to be part of an uncertain phase as the market still awaits a clear election signal. Bitcoin is expected to continue trading within a narrow range until the election results become clear.

Trump’s statements are highly optimistic

Trump’s camp is gaining attention with its impactful cryptocurrency policies throughout this process. The former president has vowed to adopt a proactive stance on Bitcoin and cryptocurrency innovation, engaging with numerous companies in the sector. Additionally, he has proposed the idea of creating a national Bitcoin reserve fund.

During his speech at the Bitcoin Conference in Nashville, Trump promised that the government would never sell the Bitcoin it holds. Such assurances have sparked significant interest among cryptocurrency investors and strengthened the expectation that a potential Trump victory could create a positive market trend.

Manipulation Allegations in Polymarket Odds

However, some Trump supporters are calling the Polymarket odds, which favor Harris, a “honeymoon period,” suggesting that these odds could be manipulated. Polymarket is known as a prediction market that allows individuals to bet on the outcomes of future events.

The impact of the U.S. election on the cryptocurrency market is being closely monitored by investors and market participants. Whether Trump’s crypto-friendly policies will lead to a victory will become clear in the coming months, and this will be a crucial factor determining the future direction of the market.