On August 19, according to Coindesk, according to the analysis of cryptocurrency brokerage FalconX, the recent movement of bitcoin price does not show a clear correlation with the probability of Republican candidate Trump's election. The specific analysis found:
From June 1 to August 15, there was no clear correlation between the three-day change in bitcoin price and the three-day change in the odds of a Republican candidate.
The factors that affect the price of bitcoin include macroeconomic factors such as U.S. monetary policy expectations and oversupply, rather than solely depending on the probability of Trump's election.
For example, the sell-off by the Saxony state government and concerns about the supply of Mt. Gox creditors have all constrained the price of bitcoin.
However, FalconX said that as the US election approaches, the election result could become the dominant factor in the bitcoin price. But so far, election information has not been the dominant driver of the bitcoin price.
FalconX: BTC price is not currently affected by the probability of Trump's election, but will still be dominated by the election results
2024-08-19 06:26:42
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