Bitcoin experienced a sharp drop after the U.S. presidential candidates’ debate and a shift in the betting markets. As VP Kamala Harris' odds on Polymarket climbed to 56%, surpassing Donald Trump’s 48%, Bitcoin dropped to a daily low. Economist Peter Schiff commented on Harris’ rising odds, predicting potential inflation if she is elected.
Presidential Election Odds
According to Polymarket, Kamala Harris' chances of winning the presidential election increased to 56%, outpacing Donald Trump's 48%. This shift in odds occurred after the candidate debates, altering sentiments in the betting markets.
Cryptocurrency Market Reaction
In response to the changing presidential election odds, Bitcoin fell to a daily low of $55,591. However, it later rebounded, showing a nearly 3% surge. The cryptocurrency market remains volatile and responsive to political events in the U.S.
Peter Schiff's Comment
Economist Peter Schiff expressed his opinion that if Kamala Harris were elected, it could lead to high inflation. "Harris has a plan to give away a lot of money the U.S. government doesn't have. In other words, she has a plan to create even higher inflation than we have now," wrote Schiff on Twitter.
Despite fluctuations in the odds, Kamala Harris continues to lead the race for the U.S. presidency. Her performance in the debates impacts the cryptocurrency markets, causing volatility. Economists like Peter Schiff express concerns over potential economic consequences if she is elected.
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