Matrixport recalled that when Trump was elected president in 2016, Bitcoin cost $800, and during the first year of the president’s rule, BTC rose in price to $19,000.
“While one data point does not establish a pattern, market optimism remains extremely strong. Many investors are betting that deregulation under Trump could allow Bitcoin to rise higher,” experts said.
Analysts noted an influx of funds into spot bitcoinETF. On October 29, net daily capital inflow amounted to over $870 million, which is the highest level since June 2024. Trading volume exceeded $4.74 billion.
Bitcoin has a chance to reach a new historical high before November 4, but after the end of voting on November 5, a short-term correction is possible, according to Matrixport.
In general, the market is focused on increasing demand and quotes, regardless of the outcome of the US presidential election. However, Trump’s victory is perceived in a more positive light, experts said.
Earlier, specialists from the derivatives platform Derive said that on the eve of the US presidential election, fluctuations in the price of Bitcoin could reach 20%. This will be the highest volatility in the last three months.
Source: Bits
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