Bitcoin’s brief rally to $69,000 maybe have been “driven by speculation” for a Trump victory. Meanwhile, BTC options traders say $80,000 is programmed.
Crypto market participants are increasingly buying more Bitcoin (BTC) whenever sentiment leans toward Donald Trump’s stronger odds of winning the United States presidential election, according to crypto analysts.
“There has been increasing speculation that there is correlation between Bitcoinʼs price action and Donald Trumpʼs election odds,” Bitfinex analysts wrote in an Oct. 21 market report viewed by Cointelegraph.
However, FalconX head of research David Lawant told Bloomberg on Oct. 22 that Bitcoin “is likely to perform well regardless of the election outcome.”