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Bitcoin Nears All-Time High as Trump's Chances Increase in US Elections

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3 hours ago

Bitcoin is experiencing significant growth amid rising chances of Donald Trump winning the US presidential election. Let's explore how this affects the digital currency's price.

Trump's Improved Electoral Chances and Bitcoin

Donald Trump's chances of winning the upcoming elections have increased substantially, rising from 36% to over 50% according to ABC News. As a result, Bitcoin has surged as crypto analysts observe a strong correlation between Trump's ratings and the cryptocurrency's price.

Analysts' Bitcoin Price Forecasts

Bernstein Research predicts that if Trump wins, Bitcoin could reach $80,000-$90,000 in Q4. In the event of a Kamala Harris victory, Bitcoin might fall to $50,000 and test the $30,000-$40,000 range.

Trump's Changing Stance on Cryptocurrencies

Formerly, Donald Trump criticized Bitcoin, labeling it “a scam” and “air-based”. Yet, he now pledges to create a BTC reserve and make the US a global crypto hub, further launching his NFTs and WLFI tokens.

Trump's rising election chances have impacted Bitcoin's price. Investors closely watch developments, assessing the potential for continued cryptocurrency value growth.

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