Options traders expect Bitcoin to hit a record high of $80,000 by the end of November, regardless of the outcome of the US presidential election. Bloomberg writes about this.
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According to the agency, the expected volatility of Bitcoin options expiring close to the November 5 election has increased, with bets being placed primarily on call options that give the right to buy the cryptocurrency at new highs.
“The market consensus is that Bitcoin is likely to perform well regardless of the election outcome,” David Lowant, head of research at cryptocurrency broker FalconX, told Bloomberg. The company estimates that options activity surrounding the presidential election “exhibits a notable bullish bias.”
As Bloomberg notes, US Republican presidential candidate Donald Trump openly supports cryptocurrencies. Her rival, Democrat Kamala Harris, announced in her election promises her intention to support a regulatory framework for the cryptocurrency market.
Non-political factors, such as further rate cuts by the Federal Reserve and inflation figures, are also contributing to traders’ optimism.
At 18:05 Moscow time, Bitcoin was worth $67,651. Cryptocurrency quotes reached their all-time high in March 2024, when Bitcoin was trading at $73,121.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
