The post Bitcoin ($BTC) bouncing on US election day but … appeared on BitcoinEthereumNews.com.

Bitcoin ($BTC) is up 1.5% so far on a long-awaited US election day. However, after being definitively rejected from the all-time high only last week, Bitcoin bulls have a lot to do to bring the price back up again. If Donald Trump wins the election their job will be much easier, and if Kamala Harris wins, stand by for a lot more turbulence. It’s not just the American people that are biting their nails on this election result, it’s the population of the whole world. Although, it could be argued that if either of them win, an almost impossible economic situation will still await that victor.  Eleventh hour polls show swing back to Trump As far as the polls are concerned, it appears that there has been a small swing back towards Trump and the republicans at the eleventh hour. Polymarket has Trump up 61.7% to Harris 38.4%, while the traditional polls, despite giving an overall even picture, have Trump up in every swing State again, according to AtlasIntel, which was the most accurate pollster in the 2020 election. Potentially choppy time ahead for Bitcoin For the crypto sector, things would appear to be looking slightly more favourable, although this election is likely to provide many twists and turns yet. At least one of the results could even be a week away from being called, so if things do go down to the wire, there could be quite a few uncomfortable days to come. During this time, the Bitcoin price will probably chop around, and the altcoins could continue to bleed out until that all-important moment of certainty when the overall result is called. $BTC still getting rejected from descending trendline Source: TradingView The short-term price chart for $BTC shows that there are still difficult times ahead for the king…

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Filed under: News - @ November 5, 2024 12:27 pm