PANews reported on November 3rd that according to China Fund News, the "Trump deal" seems to have stalled, and the virtual currency market is "bloody" again. Analysts have previously pointed out that the rise of cryptocurrencies is related to multiple news stimuli. Among them, Trump's polls surpassing Harris is the biggest stimulus. Given Trump's enthusiasm for the crypto industry, the crypto industry spent a lot of money to promote its platform during the campaign, and Bitcoin was also called the "Trump deal." As Trump took the lead in the prediction market, Bitcoin also "rose with the tide."
“While Bitcoin could fall if Harris wins the election, Bitcoin’s reaction to a Trump presidency is harder to gauge,” Yardeni of Yardeni Research Inc. wrote in a note. “Bitcoin could continue to rise, or given its year-to-date gains, a classic ‘buy the news, sell the fact’ scenario could unfold.”
