CoinVoice recently learned from China Fund News that the 'Trump trade' seems to have cooled off, and the virtual currency market is once again 'bleeding profusely.' Previously, analysts pointed out that the rise of cryptocurrencies was related to several recent stimulants. Among them, Trump's polls surpassing Harris was the biggest stimulating factor. Given Trump's high enthusiasm for the crypto industry, during the campaign, the crypto industry spent a large amount of money to promote its agenda, and Bitcoin was also referred to as the 'Trump trade.' As Trump leads in the prediction markets, Bitcoin has also 'risen with the tide.'
Ed Yardeni of Yardeni Research Inc. wrote in a report: 'Although Bitcoin may decline if Harris wins the election, the response of Bitcoin to Trump's election as president is harder to measure. Bitcoin may continue to rise, or considering the increase so far this year, there may be a typical 'buy the rumor, sell the news' situation.' [Original link]
