The post Bitcoin crosses $65k, high off China stimulus expectations and Trump’s high odds appeared on BitcoinEthereumNews.com.

Bitcoin has smashed through the $65k mark. Speculators are on a high, as optimism swells around China’s economic stimulus and Donald Trump’s odds for the White House. At press time, BTC was worth $65,853. China, trying to jolt its economy back to life, hinted at more economic aid over the weekend, but still didn’t spill the beans on how much cash it’s really going to inject. Economists aren’t exactly clapping. They’re unsure if Beijing is doing enough to counter deflation, and China’s once roaring stock market seems to be faltering. Trump vs Harris: Crypto’s wildcard America’s presidential race has turned into a big deal for the industry. Prediction markets are giving Trump, the pro-crypto Republican, a stronger shot at beating Kamala Harris. Over the weekend, Trump’s odds jumped to 53.7%, while Harris fell to 45.7%. Just last week, they were nearly tied. On platforms like PredictIt and Kalshi, Trump now has a clear lead.  Betting on this election has exploded, with over a billion dollars already placed on the outcome. Trump’s odds shot up after recent public appearances, which seem to be working in his favor. Meanwhile just earlier, in a bid to win over black men, Harris said she’s going to push for clear crypto rules, so the 20% of Black Americans who’ve invested can have more confidence. She also promised to work with Congress to legalize weed and make sure Black men can start businesses and get jobs in the growing cannabis industry. While the bettors are banking on Trump, recent public opinion polls aren’t fully aligned. ABC/Ipsos shows Harris slightly ahead by 2 percentage points in the latest survey, but that doesn’t seem to be phasing the markets. In swing states like Michigan and Wisconsin, Trump is closing in fast, while Harris’s lead is shrinking. All eyes…

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Filed under: News - @ October 14, 2024 5:23 pm