Bernstein: The strength of Bitcoin is related to the increased probability of Trump's election
ChainCatcher News, analysts from the research and brokerage firm Bernstein stated that after rising 5% on Monday, Bitcoin increased by about 14% in October, reaching over $65,000. This is due to the continuously rising election odds of Donald Trump; MicroStrategy is a leading indicator of potential bullish breakthroughs.
Analysts Gautam Chhugani, Mahika Sapra and Sanskar Chindalia commented: "We believe that the recent strength of Bitcoin has been driven by the return of correlation between Bitcoin and Trump's election odds. Although both parties have expressed support for digital assets, due to Trump's increased odds in the election prediction market, there are stronger bids in the crypto market."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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