The voting for the US presidential election officially started yesterday (November 5). This election is considered to be the most competitive in the past 60 years. In this election, the competition between Democratic candidate Kamala Harris and Republican candidate Donald Trump is quite intense, and some key swing states will become the key battlefield to determine the election results.
Latest voting results - Trump leads with 120 electoral votes
As of 9 p.m. local time (EST) on November 5 (10 a.m. Singapore time on November 6), polling stations in 32 states and Washington, D.C. have closed.
According to the Associated Press, Republican presidential candidate Trump has won 120 electoral votes so far, while Democratic presidential candidate Harris has won 99 electoral votes. Republican presidential candidate Trump won Alabama, Mississippi, South Carolina, Oklahoma, Florida, Tennessee, Nebraska, etc. Democratic candidate Harris won Massachusetts, Connecticut, Maryland, Rhode Island and Washington, DC.
Cryptocurrency holders are more likely to support Trump, while non-cryptocurrency holders are more likely to support Harris. There are significant differences in the positions of the two parties on encryption policy: Democrats favor strict regulation, while Republicans advocate supporting industry innovation.
In terms of economic policy, Trump advocates economic freedom and reduced government intervention, and has shown a positive attitude towards cryptocurrencies, trying to make the United States a global cryptocurrency center. His stance has attracted some voters who are positive about cryptocurrencies. Harris, on the other hand, is relatively moderate in economic and immigration policies, and supports clean energy and welfare policies.
As the outcome of the U.S. presidential election will have a significant impact on global markets, investors remain wary of market volatility. Bitcoin and other cryptocurrency markets are also closely watched during elections, especially if Trump's policies could lead to a more relaxed regulatory environment for cryptocurrencies.
"If we win Pennsylvania, we win the whole thing," Trump said on the Rich Zeoli Show on 1210 WPHT talk radio in Philadelphia. "We're going to make this country greater than it's ever been, but you've got to stay in there. Don't let them hold you back. You have an absolute legal right to get your vote in there because if we win Pennsylvania, if we win the old Commonwealth, we're going to win everything. We win everything."
BTC breaks through $72,000 due to election impact
Trump’s performance in the 2024 presidential election is also considered an important factor affecting the price of Bitcoin. Trump’s public support for cryptocurrencies and the increase in his chances of winning have a positive impact on the price of Bitcoin.
Market analysts generally believe that Trump's victory may be good for Bitcoin prices, because his policies may reduce regulatory pressure on cryptocurrencies. If Trump wins, Bitcoin prices may rise rapidly and even hit new highs. On the other hand, if Harris wins, the market may face short-term selling pressure, but in the long run, increased regulation may lead to market stability and maturity.
According to the latest AICoin market, BTC broke through $72,000 today (November 6), with a 24-hour increase of more than 6%, and the current value is 72,120 USDT. At present, various technical indicators show a strong upward trend. For more information about BTC, please download the AICoin application https://www.aicoin.com/download
Image source: AICoin
Bloomberg Consulting ETF analyst Eric Balchunas also posted on social media on the evening of November 5 that the sudden rise of BTC may be a response to the US presidential election. He personally believes that BTC seems to be a clear indicator because it is an issue involved in the campaign, while stocks and bonds are not so important.
Summarize
The dynamics of the US presidential election and the Bitcoin market are a microcosm of the current global economic and political situation. These events not only affect US domestic policies, but also have a profound impact on the global economic landscape. As the election results gradually emerge, investors and observers need to pay close attention to changes in the election situation and market reactions in order to be prepared for various possible market fluctuations.
