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6.11.2024

Bitcoin leaps to record high as traders lean towards Trump victory

SINGAPORE (Reuters) -Bitcoin surged to a record high in Asian trade as investors
leaned towards Donald Trump winning the U.S. presidential election. The world's
biggest cryptocurrency rose 7% to $75,060, topping March's peak, with the
prospect of Trump's return to the White House seen ushering in a softer line on
cryptocurrency regulation. Republican Trump won 15 states while Democrat Kamala
Harris captured seven states and Washington, D.C., Edison Research projected,
and though the race remained too early to call financial markets began moving in
the Asia session to price a victory for the former president. Matthew Dibb,
chief investment officer at cryptocurrency asset manager Astronaut Capital, said
markets expected a change in attitude at the U.S. Securities and Exchange
Commission to remove a choke point for crypto innovation and speculation.  
"(A) Democrat win would have felt like a short term nail in the coffin," he
said. "Probably not the case long term but the market is placing high importance
on it." Smaller cryptocurrency ether also jumped 7.5% but at $2,593 remained
well below its 2021 high of $4,867

29.10.2024

Bitcoin soared by more than 3% again, only more than $100 away from its
historical high!

In the past five days, Bitcoin has continued to rise amid market doubts, with a
cumulative increase of 8%. Since the beginning of this year, Bitcoin has risen
by 63%, exceeding the 35% increase in gold and the three major US stock indexes
in the same period. Before the US presidential election, Bitcoin is still
expected to break through this position. Although Bitcoin has performed well
this year, the entire crypto market has not risen completely synchronously, and
most virtual currencies remain in a lower price area or even hit a new low in
this cycle. Typical examples are ADA, XRP, DOT, etc., showing the well-known
"blood-sucking effect". According to historical experience, this effect will
gradually dissipate as Bitcoin prices continue to hit new highs, that is, after
Bitcoin prices stagnate, some funds will be diverted to other altcoins or hot
sectors. At present, this change may occur between after the US election and
early 2025.

17.10.2024

Recent Bitcoin strength driven by improving odds of Trump election win -
Bernstein

Recent strength in Bitcoin is being driven by an improvement on
betting websites in Donald Trump's odds of winning the 2024 US election,
according to analysts at Bernstein. Although both Trump and Democratic candidate
Kamala Harris have both indicated support for digital assets, crypto markets
have strengthened in correlation with the former president's chances of emerging
victorious in the Nov. 5 ballot, the analysts noted. Despite polls suggesting
that Harris holds a narrow lead nationally and the race is a virtual toss-up
across several key battleground states, online prediction markets have shown a
rise in Trump's chances of winning a second four-year term in the White House.
Bets on Kalshi, which was recently granted court approval to carry out election
betting in the US for the first time, give Trump a 57% edge, compared to 43% for
Harris. At the same time, Polymarket has the contest at 60% for Trump and about
40% for Harris. <div id="article-newsletter-hook">&nbsp;</div> Bitcoin,
meanwhile, has jumped by 16.6% over the last one-month period, as of 07:20 ET
(11:20 GMT) on Wednesday. The world's most popular digital token was exchanging
hands at $67,887.9, a 24-hour increase of 3.4%, as it appeared to have broken
out of a $50,000 to $65,000 trading range seen through most of the year. "[T]he
Bitcoin market strength is recent and reflective of the current spike in Trump
odds," the Bernstein analysts said in a note to clients. Trump has maintained a
largely pro-crypto stance in recent campaigning despite previously calling
Bitcoin a "scam". This week, his World Liberty Financial crypto project went
live, with reports stating that it raised at least $220 million in token sales.
Harris, for her part, has vowed to form a definite regulatory framework for
crypto, although she did not elaborate on the details.

Platform Introduction

Dolphin Exchange was founded by Rashida Nasrin in 2023 and is headquartered in
the United States. Rashida Nasrin is a blockchain and cryptocurrency developer
who focuses on the development of decentralized applications (dApps) and smart
contracts.

Dolphin Exchange's simple interface and operation provide users with the
convenience of fast operation, and through cold wallet storage, user identity
verification (2FA), encryption technology, etc., to ensure the security of user
assets.

Rashida Nasrin has a keen market sense and a vision for the future of the
cryptocurrency exchange market. Promote the development of the cryptocurrency
market through technological innovation and user experience optimization.

As the name of Dolphin Exchange comes from, dolphins show great curiosity and
wisdom in exploring unknown areas. These exploratory behaviors and learning
abilities not only help dolphins survive in the natural environment, but also
enable them to remain flexible and adaptable when facing environmental changes
and challenges.



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