Matrixport: Bitcoin demand surges as Trump's chances of winning and ETF purchases rise
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Odaily Planet Daily Report: Matrixport released a chart today, stating that in November 2016, when Trump was first elected, the price of Bitcoin was around $700 per coin, and it rose significantly in his first year in office. Although a single data point is not enough to form a trend, the market's optimistic sentiment remains high, and many believe that if Trump is re-elected, he will relax regulations, and Bitcoin may rise further. Currently, the betting market estimates Trump's probability of winning at 66.5%, which could become one of the largest leads in history. At the same time, the demand for Bitcoin continues to increase, with a recent single-day Bitcoin ETF purchase volume of $800 million, further reducing the supply of Bitcoin on exchanges.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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