Bitcoin (BTC) Price Today Correlated to Rising Trump Election Odds, Analysts Say
- Susan SarandonOriginal
- 2024-10-16 01:26:11732browse
At the moment of writing this article, BTC is trading above $65,000, up by over 1% in the past 24 hours. Earlier, BTC's price topped $66,000
Recent Key Points:
- Bitcoin price is up by over 1% in the past 24 hours, trading above $65,000.
- BTC price crossed $66,000 for the first time since last month.
- Bernstein analysts say that Bitcoin's strength is linked to Trump's rising election odds.
- MicroStrategy's stock strength is also an indicator of BTC strength, due to their Bitcoin strategy.
- Analysts also noted a shift from AI diversifiers to “pure-play” Bitcoin miners.
- Trump's odds of winning the US election are rising according to prediction markets.
- MicroStrategy's goal is to become the leading Bitcoin bank and a trillion-dollar company.
- Pure-play Bitcoin miners are expected to gain strength and catch up with AI-focused miners.
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