Bitcoin's price has hit a more than two-and-a-half-month high, showing a growing correlation with former US President Donald Trump's election odds. The price of Bitcoin (BTC) surged by almost 10% in the past week, exceeding $68,200 for the first time since July's end. This increase followed Trump's lead over Vice President Kamala Harris reaching a new high on a decentralized predictions market. Trump's chances of winning the US presidential elections were at 60.2%, while Harris' dropped to 39.8% on Oct. 16. Some believe Trump is more favorable for crypto innovation, while a Harris presidency could lead to stricter regulations. The recent rally in Bitcoin's price, although influenced by various factors, was dismissed by economist Peter Schiff as a 'meaningless, Trump-inspired' surge. The correlation between Trump's election odds and Bitcoin's price has been noted by industry experts, indicating a shift in investor sentiment towards greed. Read more AI-generated news on: https://app.chaingpt.org/news

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