Yet another reason that has given the rocket fuel to the price of Bitcoin is the rapidly approaching US presidential elections. Several analysts are keenly observing whether political dynamics will take their toll on the cryptocurrency in the near future with the election date nearing. Related Reading: Dogecoin Jumps Over 16% In The Last Week — More Gains To Come? QCP Capital believes that the result of the presidential election might have significant influence on the trajectory of Bitcoin. This should be relayed in the current trading patterns as options contracts associated with the election are trading at a 10% premium, thus indicating increased market sensitivity towards political developments. Who Is More Advantageous For Bitcoin: Trump Or Harris? Former President Donald Trump has revealed that he now supports cryptocurrencies. This is a very significant U-turn since he used to outright bash the existence of cryptocurrencies. In his latest speech, he pushed how much it was essential to embrace digital currencies, stating that crypto was moving out of the United States because nobody appreciates it. Source: QCP Capital He ad ..
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