- In keeping with Polymarket, Donald Trump has a 56.5% likelihood of profitable.
- Trump has promised to assist Bitcoin and blockchain know-how if elected president.
- If Trump wins, Bitcoin (BTC), Bittensor (TAO), and Solana (SOL) are anticipated to show bullish.
If Donald Trump, the Republican candidate and powerful proponent of cryptocurrencies, wins the US presidential election, Bitcoin (BTC) is predicted to see a major rally and attain new highs.
In keeping with Polymarkets information, Trump presently has a 56.5% likelihood of profitable the 2024 election, whereas his opponent, Democrat Kamala Harris, has a 43.5% likelihood. Trump obtained a whopping $1.2 billion in bets, whereas Harris obtained $771 million.
Additionally learn: Bitcoin plummets to $67,000; 104,000 merchants liquidated, $230 million in losses: What's subsequent for BTC?
As voting begins on November fifth and outcomes close to, President Trump's agenda is about to switch SEC Chairman Gary Gensler, pledging to assist widespread adoption of Bitcoin and blockchain know-how. If Trump secures a victory, BTC might skyrocket, and Bittensall (TAO) and Solana (SOL) might additionally see important beneficial properties.
Bitcoin and Altcoins: Present Market Snapshot
In keeping with CoinMarketCap, Bitcoin is buying and selling at $69,112 on the time of writing, down 6.25% from its all-time excessive of $73,750 after an unsuccessful try to interrupt above that degree in late October. At the moment, the market capitalization of this cryptocurrency is $1.37 trillion, and the buying and selling quantity has elevated by 43.16% previously 24 hours to succeed in $33 billion.
Will Bittensor and Solana proceed their sturdy efficiency?
At the moment, TAO and SOL are priced at $432.47 and $163.06, respectively. Since November 2023, TAO is up 379.59% whereas SOL is up 298.20%. Nonetheless, Bitcoin struggled to maintain above $70,000 final week, with SOL down 6.98% and TAO down 12.92%.
With a market capitalization of $3.19 billion, TAO stays one of many largest initiatives within the AI and distributed ledger area. In the meantime, SOL, a number one layer 1 resolution, has a market capitalization of $76.7 billion. Each property have proven sturdy efficiency and proceed to have progress potential.
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