Donald Trump winning the US elections could positively impact cryptocurrency markets, according to Wall Street broker Bernstein. In this context, it was noted that Bitcoin weakened against polls and Polymarket odds favoring Harris. However, Trump’s positive approach to crypto policies promises hope for the markets.
How Can the Cryptocurrency Market Revive?
There is an expectation that Donald Trump winning the US elections in November could positively impact cryptocurrency markets. Bernstein, one of Wall Street’s leading brokers, addressed this situation in a report. The report indicates that if market sentiment shifts in favor of Trump, cryptocurrencies could experience a rise. On the other hand, a victory for Kamala Harris could have the opposite effect and cause a market decline.
According to Bernstein’s analysis, changing odds and poll results in favor of Harris on prediction platforms like Polymarket caused Bitcoin to weaken. However, it is stated that this situation occurred during a period of uncertainty as the markets have not yet received a clear election signal. Bitcoin is expected to continue trading within a narrow range until the election results are clear.
Trump’s Statements Are Extremely Positive
Trump’s side is drawing attention with highly impactful crypto policies during this process. The former president promised to follow a positive policy towards Bitcoin and crypto innovation, interacting with many companies in the sector. Additionally, he brought up the idea of creating a national Bitcoin reserve.
In a speech at the Bitcoin Conference in Nashville, Trump promised that the government would never sell the Bitcoins it holds. Such promises sparked great interest among cryptocurrency investors and strengthened the expectation that a possible Trump victory could create a positive wind in the markets.
Manipulation Allegations in Polymarket Odds
However, the Polymarket odds turning in favor of Harris are being called a “honeymoon period” by some Trump supporters, who claim these odds could be open to manipulation. Polymarket is known as a prediction market that allows people to bet on the outcomes of future events.
The impact of the US elections on cryptocurrency markets is being closely watched by investors and market participants. Whether Trump’s crypto-friendly policies will result in a victory will become clear in the coming months, and this will be a significant factor determining the future direction of the markets.
