Bitcoin Price and Trump’s Betting Odds: A Possible Correlation?

The Link Between Bitcoin and Odds

As we approach the 2024 U.S. presidential election, Bitcoin's (BTC) price trajectory seems closely tied to Trump's betting odds. Recent data suggests that as Trump's odds improved, so did Bitcoin's price, creating an intriguing correlation.

Trump’s Odds Surge

• Trump's odds to win increased from 50% to 54% from October 10 to 14.
• In this same period, Bitcoin's price climbed over 7%, from $60,300 to $65,000.

Impact of Trump’s Pro-Bitcoin Position

Trump’s support for Bitcoin during his presidential campaigns seems to energize market sentiment. His advocacy for deregulated crypto policies and acceptance of Bitcoin donations is reshaping market dynamics.

Efforts to Shape the Future

• Trump announced the sale of the World Liberty Financial (WLF) token, promoting a vision for finance.
• His opposition to central bank digital currencies (CBDCs) aims to protect financial freedom.

Future Bitcoin Price Predictions

Analysts predict that if Trump wins, Bitcoin could surge to between $80,000 and $90,000. This projection aligns with previous forecasts suggesting a potential rise to $125,000 under a Trump presidency.

Market Resilience

With Bitcoin stabilizing near $65,368, signs of resilience are evident. Analysts suggest a focus on the upcoming target range of $67,000 to $68,000 in light of seasonal trends.