Analysis: Bitcoin's reaction to Trump's election is more difficult to measure, “Trump trade” seems to go out of fire

November 4, according to China Fund News reported, “Trump deal” seems to go out, the virtual currency market once again “blood flow into the river”. Previously, analysts pointed out that the rise of cryptocurrencies, with a number of news stimulus. Among them, Trump's polls overtook Harris, is the biggest stimulus. Bitcoin has also been dubbed the “Trump trade” given Trump's enthusiasm for the crypto industry, which spent a lot of money promoting his platform during the campaign. With Trump leading the prediction market, Bitcoin is “on the rise”.

Ed Yardeni of Yardeni Research Inc. wrote in a report: “While bitcoin could fall if Harris wins the election, bitcoin's reaction to a Trump presidency is harder to measure. Bitcoin could continue to rise, or given the gains so far this year, there may be a classic 'buy the news, sell the facts' scenario.”