Predictions markets had an edge on the polls in the 2024 US election, but are they actually helping pundits predict the future?
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The crypto lobby has made its mark on the US presidential elections.
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Crypto investors are calling for a Trump victory due to the infamous “inverse Cramer” effect following the popular television host’s Monday predictions of a Harris victory.
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Post-election price volatility could set the stage for Bitcoin’s rally to a new record high above $73,800.
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The revelation comes just a day ahead of the US presidential election on Nov. 5, which has become a focal point for crypto investors.
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Donald Trump’s winning odds lead on Polymarket have significantly narrowed, and Bitcoin’s little price dump caused big liquidations.
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The prospect of favorable regulations and Bitcoin’s hedge status mean that Bitcoin can weather any election result and even reach $100,000.
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According to the current Polymarket presidential election odds, Donald Trump is favored to win the election at 65.5%.
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According to Paradigm, 20% of individuals surveyed indicated that they currently hold or have previously purchased crypto.
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“Bitcoin is currently being used as a liquid proxy to hedge a Trump win,” which was previously seen as “underpriced,” according to an analyst.
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