Bitcoin (BTC) recent price fluctuations are closely related to the U.S. presidential election. As of November 5, 2024, the price of Bitcoin is approximately $69,931, having risen about 2.32% in the last 24 hours.

Recent Price Trends

In the run-up to the U.S. presidential election, Bitcoin prices have shown an upward trend. In late October, Bitcoin broke through $72,000, nearing its historical high. This surge is primarily influenced by investors' expectations regarding the election results, particularly their focus on the candidates' cryptocurrency policies.

Impact of the Election on Bitcoin

Republican candidate Donald Trump has expressed support for Bitcoin during his campaign, promising to make the U.S. a "Bitcoin superpower." This stance has led the market to anticipate that if Trump is elected, the price of Bitcoin could rise further. In contrast, Democratic candidate Kamala Harris has a relatively conservative attitude towards cryptocurrencies, which may lead to a short-term decline in Bitcoin prices.

Future Outlook

The election results will directly impact the short-term trend of Bitcoin. Analysts predict that if Trump is elected, Bitcoin prices could surpass $80,000; if Harris is elected, the price may fall back to $65,000. However, in the long term, Bitcoin prices will still be influenced by macroeconomic factors and the global regulatory environment.

Before the election results are clear, market volatility may occur. Investors should closely monitor the electoral process and cautiously adjust their investment strategies based on their risk tolerance while holding spot investments.