Donald Trump

Bitcoin

Impact

<p>The crypto market has experienced a strong bearish pullback. This has resulted in the Bitcoin price losing ~7% in valuation over the past few days. Following this, the altcoin market has experienced a similar price action.</p>   
<p>With a neutral start to the week, is this a good time to enter the crypto market as only a few hours remain for the next U.S. Presidential election? In this article, we have covered the potential short-term possibilities!</p>   
<h2 class="wp-block-heading" id="h-btc-price-breaks-below-the-70k-level">BTC Price Breaks Below The $70k Level!</h2>   
<p>The Bitcoin price has recorded a neutral price action over the past week by recording a variation of less than 2% during this time. Moreover, amid increased volatility, the star crypto has failed to hold its value above the $69k level.</p>   
<figure class="wp-block-image size-large">
 <img src="https://image.coinpedia.org/wp-content/uploads/2024/11/04163407/image-33-1024x540.png" alt="Bitcoin Price Analysis 04th November 2024" class="wp-image-375664">
 <figcaption class="wp-element-caption">
  TradingView: BTC/USDT
 </figcaption>
</figure>   
<p>The SMA indicator has displayed a bearish convergence in its 1D time frame, indicating an increase in the selling pressure for the Bitcoin price.</p>   
<p>Further, the MACD shows a rising red histogram with its averages experiencing a negative crossover. This suggests that the star crypto may continue losing value.</p>   
<h2 class="wp-block-heading" id="h-trump-vs-harris-polymarket-statistics">Trump Vs Harris Polymarket Statistics</h2>   
<p>The Polymarket has recorded a stable decline in Trump’s winning percentage. Notably, the winning percentage of Donald Trump has reduced to 57.9% from a peak of 71.5% over the recent time.</p>   
<figure class="wp-block-image size-full">
 <img src="https://image.coinpedia.org/wp-content/uploads/2024/11/04163937/image-35.png" alt="" class="wp-image-375672">
 <figcaption class="wp-element-caption">
  Source: Polymarket
 </figcaption>
</figure>   
<p>However, on the other hand, the winning rate of Kamala Harris has increased to 42.2% from 1.3% on 26th June this year. With only a few hours remaining before the next U.S. Presidential election, investors have now entered into a FOMO-like situation.</p>   
<h2 class="wp-block-heading" id="h-u-s-election-2024-impact-on-altcoins">U.S. Election 2024 Impact On Altcoins!</h2>   
<p>With increased volatility in the crypto market, the altcoin market is losing dominance to Bitcoin. Notably, BTC price has crossed the 60% mark for the first time since March 2021.</p>   
<figure class="wp-block-image size-full">
 <img src="https://image.coinpedia.org/wp-content/uploads/2024/11/04163414/image-34.png" alt="" class="wp-image-375665">
 <figcaption class="wp-element-caption">
  Source: CoinMarketCap
 </figcaption>
</figure>   
<p>Moreover, the dominance of Ethereum has reduced to 13.2% from a high of over 18% this year. This indicates a negligible chance of an altcoin season anytime soon.</p>   
<h2 class="wp-block-heading" id="h-will-bitcoin-price-hit-a-new-high-this-november">Will Bitcoin Price Hit A New High This November?</h2>   
<p>Suppose, if the odds favor the market, this could result in the BTC crypto breaching its ATH of $73,750.07 and heading toward the $80,000 range.</p>   
<p>On the contrary, an unfavorable outcome could potentially pull the price toward its $60,000 level.</p>   
<p>Also, read <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">Bitcoin (BTC) Price Prediction</a>!</p>   
<h2 class="wp-block-heading" id="h-faqs">FAQs</h2>   
<div class="schema-faq wp-block-yoast-faq-block">
 <div class="schema-faq-section" id="faq-question-1730718304520">
  <strong class="schema-faq-question"><strong>Bitcoin next 24 hours Prediction?</strong></strong> 
  <p class="schema-faq-answer">BTC price is likely to range between $68k and $70k for the next 24 hours.</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1730718305615">
  <strong class="schema-faq-question"><strong>Will BTC price hit $100k this 2024?</strong></strong> 
  <p class="schema-faq-answer">Increased bullish sentiment in the crypto market post-U.S. election could potentially result in this project heading toward the $100k mark.</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1730718306257">
  <strong class="schema-faq-question"><strong>Will Bitcoin hit new ATH if Trump wins the election?</strong></strong> 
  <p class="schema-faq-answer">The market is expected to quickly retest its ATH of $73,750.07 if Trump wins. If bullish sentiment sustains, it could head toward its $80K level.</p> 
 </div> 
</div>

Why Bitcoin is Dropping Today? Can We Expect More Crash Tomorrow?

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