ChainCatcher message, HashKey Group Chief Analyst Jeffrey Ding analyzes that Trump's chances of winning have sharply risen to 90% in the betting market Polymarket. Meanwhile, the price of Bitcoin has also seen a historic breakthrough, briefly surpassing 75,000 USDT, with an intraday increase of over 8%. This phenomenon indicates that the market's expectations for Trump's election are transforming into positive investment sentiment for Bitcoin, and the strong performance of Trump suggests that Bitcoin may enter a rapid upward trajectory.
It can be seen that the probability of Trump's election has surged, and it is regarded as the 'starting gun' for the cryptocurrency market. It is expected that in the period leading up to Trump's inauguration, the digital currency market will continue to digest this positive news. The series of pro-cryptocurrency policies that Trump promised during his campaign, including incorporating Bitcoin into the national reserves and replacing the current SEC Chairman Gary Gensler, are all seen as significant benefits for the market. Given that Trump is known for 'keeping campaign promises,' we have reason to expect these policies to be gradually implemented after he takes office.
The expectation of these policies being implemented, combined with the high probability of Trump's election, provides strong support for the price increase of Bitcoin and other cryptocurrencies. Market participants generally believe that Trump's victory is more favorable for the cryptocurrency industry compared to the Democratic Kamala Harris. Therefore, as the probability of Trump's election rises, the market performance of Bitcoin and other cryptocurrencies is worth looking forward to, and investors should closely monitor relevant policy trends and their impact on the market.
