Cryptocurrency market affected by US presidential election… “Fluctuates” depending on Trump’s chances of winning

With less than a month to go until the US presidential election, the cryptocurrency market has recently been swayed by the chances of Republican presidential candidate Donald Trump winning.
As the approval rating of candidate Trump increased, the price of Bitcoin started to rise. The cryptocurrency market recently saw a surge in interest from Democratic candidate Kamala Hari Su's "Cryptocurrency Market Development" campaign.
Despite the "tolerance" remarks, it seems that Trump's election will help the market develop. On the 18th, according to South Korean virtual asset exchange Bithumb, the price of Bitcoin was down 5% on the 14th.
According to Bithumb's daily trading chart, this is the first time since July 15th that Bitcoin has recorded an increase of more than 5%. This is the first time Bitcoin has risen sharply in three months.
However, the main reason behind the increase is the sudden rise in the approval rating of candidate Trump on that day. According to PolyMarket, a cryptocurrency-based prediction market platform,
On the day of the election, Trump's chances of winning were 54.8%, surpassing Ha Ri Su's 44.8%. Until the beginning of this month, Trump's approval rating had been pushed down by Ha Ri Su's, but it has recently risen again.
According to DoubleRock, the Wall Street investment bank Bernstein recently said in an investor memo that "as the chances of Trump's election increase, Bitcoin's
"Prices are also showing an upward trend," he said. "Both parties have expressed support for virtual currencies, but in the virtual currency market, according to PolyMarket's betting index, the odds of Trump winning are high.
Indeed, a trend has emerged in which Bitcoin is becoming even more bullish."