Welcome to Extreme Investor Network, where we provide you with the latest insights and trends in the stock market, trading, and more. Today, we are looking at the US Elections Forecast Trends leading up to the 2024 elections.
According to the latest data from Polymarkets, a prediction markets platform on the Polygon network, crypto traders have been actively wagering on the outcome of the elections. As of October 31, Donald Trump was leading with 65.3% of the votes, compared to Kamala Harris’ 34.8%. This significant lead for Trump seemed to point towards a potential landslide victory for the Republican candidate.
However, in a last-minute twist, Kamala Harris made a rapid resurgence in the polls, closing the gap to 57.7% – 42.4% as of November 4, just hours before the elections. Interestingly, this surge in support for Harris coincided with Bitcoin’s 5-day losing streak, suggesting a correlation between the US elections race and the cryptocurrency market.
The uncertainty surrounding the elections has also had an impact on the price of Bitcoin. On November 5, Bitcoin experienced a 2% dip within the daily timeframe as traders grew cautious ahead of the elections. Technical indicators are pointing towards a bearish momentum that could persist until a winner is declared. Bitcoin is currently trading below the Volume Weighted Average Price (VWAP) of $67,991 and remains within the bearish zone of the Keltner Channel (KC) bands, indicating potential downside risk.
Stay tuned to Extreme Investor Network for more updates on how the US elections and other real-world events are influencing the stock market, trading strategies, and investment opportunities. Subscribe to our newsletter to receive exclusive insights and analysis straight to your inbox.