Donald Trump is becoming Trump card for crypto currency market, Bitcoin reaches record high due to election trends

New Delhi, 6 November (HS). The results and trends of the presidential election in America have started coming. Among these, former President Donald Trump seems to be getting closer to majority. Due to Trump's lead in the election race, there is a strong movement in the crypto currency market. The world's largest crypto currency Bitcoin today jumped and crossed the level of 75 thousand dollars. According to 12 noon Indian time, this crypto currency has touched the highest level of $ 75,011.06. Earlier this year, on March 14, Bitcoin had set a record by reaching the level of $73,797.68, but the counting trends in America have breathed new life into this crypto currency.

Ravneet Khanna, head of operations of Coin Market Cap, the agency authorized to trade crypto currencies in India, says that the elections in America have had a great impact on the crypto currency market. The policy of Joe Biden and Kamala Harris has been against crypto currency from the beginning, whereas Donald Trump in his previous term not only accepted the importance of crypto currency but also supported the idea of ​​recognizing it as an alternative currency. Had done. This is the reason that if Donald Trump becomes in a position to form the government in the US election results, then a new record of strength can be created in the crypto currency market, especially Bitcoin. At the same time, if Kamala Harris wins due to some last-minute reversal, then the sentiment in the crypto currency market may also turn negative.

The election results of the US President are considered very important for the future of the crypto currency market. Due to some of Kamala Harris's earlier statements, it is being speculated that if Kamala Harris comes to power, adverse conditions may be created for the cryptocurrency market. On the other hand, Donald Trump is already considered positive for the crypto industry. Earlier this year, when Donald Trump had talked about his candidacy for the post of President, he had also described the use of crypto currency as necessary for the American economy.

If we look at the US elections and the movement of Bitcoin, since 2012, Bitcoin has been giving tremendous returns in the crypto currency market within 90 days of the US Presidential election. This cryptocurrency gave a return of 87 percent in 90 days after the 2012 elections. Similarly, after the 2016 elections, Bitcoin gave a return of 44 percent and in 2020, within 90 days of the elections, this crypto currency gave a return of 145 percent.