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Blockchain & Cryptocurrency
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Bitcoin Surges Amid Trump's Election Odds Rise
2024-07-17 14:59:07
Blockchain
Finance

Bitcoin Surges Amid Trump's Election Odds Rise

Bitcoin's value spikes by 8.6% to $62,508 following Trump's improved election odds. The surge in crypto prices is driven by anticipation of favorable policies from a potential Trump presidency.

Polymarket sees a record $116M in election bets, with Trump leading at 69%. Deribit introduces new bitcoin and ether options linked to the U.S. elections, garnering positive feedback from crypto traders.

Analysts predict bitcoin reaching $1 million by 2033, citing factors like ETF launches and increased institutional adoption.

Related news on that topic:

The Potential Impact of Ethereum and Bitcoin ETFs on Bitcoin's ... Price Surge

As Bitcoin and Ethereum ETFs gain momentum, Bitwise CIO Matt Hougan foresees a surge in Bitcoin's value to $100,000. With ETF inflows already at $15 billion and more expected with the introduction of Ethereum ETFs, Hougan projects that 1-5% of ETF portfolios will include Bitcoin within three years, attracting major wealth platforms like Morgan Stanley and Wells Fargo. Despite potential volatility from the Grayscale Ethereum Trust, Hougan remains optimistic about long-term growth. Alongside this, the approval of spot Ethereum ETFs could create a new asset class, with Ethereum as a pivotal player in tokenization efforts. The recent inflows in Bitcoin ETFs, including BlackRock's substantial $260 million investment, indicate a growing interest in cryptocurrency investment vehicles. As Wall Street prepares for the launch of Ethereum ETFs this summer, the market anticipates a significant shift in investment strategies towards digital assets, with companies like BlackRock, Fidelity, and VanEck at the forefront of this transformative wave.

Riding the Crypto Wave: Bitcoin Hits Record Highs Despite Mt. Gox ... Gox Concerns

Despite worries surrounding a potential flood of $9B in bitcoin from Mt. Gox creditors and speculative FUDs, Bitcoin has surged past $65K, driven by a broad crypto rebound. XRP, leading the rally with a 35% jump, has ignited bullish narratives of a potential breakout. Analysts predict XRP could reach new all-time highs, with significant institutional interest evident. Amidst the market excitement, Bitcoin whales are set to accumulate more, dismissing Mt. Gox fears as overestimated. The current market depth is expected to mitigate massive sell-offs, allowing for gradual liquidation absorption without significant disruptions. As Bitcoin eyes $70K, fueled by reduced Mt. Gox pressure and positive market outlook, the crypto landscape remains vibrant and full of potential.

Read 3 more recent news on this topic

The press radar on this topic:

The Street
27. Juli 2024 um 16:46

Bitcoin surges to two-week high as Trump’s election odds improve

Politics
Finance
Bitcoin surges 8.6% to $62,508 as Trump's election odds improve after thwarted assassination attempt; crypto market expects positive impact from Trump's pro-crypto stance, according to Amberdata's Pay Doyle; crypto ETFs draw over $1.35 billion in funds, reflecting turnaround in sentiment due to lower than expected CPI, says CoinShares' James Butterfill.
Cointelegraph.com News
17. Juli 2024 um 03:41

Trump election bets boost Polymarket volumes to record $116M in July

Politics
Finance
Cryptocurrencies & blockchain
Crypto platform Polymarket hit $116.4M July volumes, a record, on $263.5M in US election bets. Trump leads at 69% odds, followed by Biden at 19%, Harris at 6%, and Michelle Obama at 2%. Polymarket hired analyst Nate Silver, closed $70M Series B led by Founder Fund and Vitalik Buterin. Nate Silver believes Trump's VP pick JD Vance could hurt his campaign. Polymarket has seen $471.9M wagered on events ranging from politics, finance, sport, and crypto.
The Street
23. Juli 2024 um 09:26

Bitcoin may hit $1 million by 2033, report says

Cryptocurrencies & blockchain
Finance
According to a report from AllianceBernstein, the price of bitcoin is projected to reach $1 million by 2033 and $500,000 by 2029. The report cites factors such as the launch of bitcoin ETFs, increased institutional adoption, and the impact of the quadrennial bitcoin halving on supply and demand dynamics as driving the expected price surge.
The Defiant
17. Juli 2024 um 07:10

Polymarket Sees Record $116M in Election Bets as Trump Leads with 69%

Politics
Finance
Cryptocurrencies & blockchain
Polymarket, a decentralized prediction market platform, has seen a surge in trading volumes, reaching a record $116.4 million in the first half of July. This increase is driven by bets on the outcome of the upcoming US presidential election. As of now, $263.5 million has been wagered on the election, with Donald Trump leading with a 69% chance of winning, while Joe Biden follows at 19%. Around $32 million worth of bets have been placed on Donald Trump, while Joe Biden’s odds now stand at 18%,..
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