This Sunday, the price of Bitcoin continues to lose ground and investors are in a considerable state of uncertainty. The latter, as expected, is related to this week’s presidential elections in the United States. Pro-crypto candidate Donald Trump backs down on Polymarket and other betting platforms.
The latter reveals the climate of uncertainty and anxiety in the face of an unprecedented scenario for the Cryptocurrency market. For the first time in history, this sector is presented as one of cardinal importance in the politics of the largest world economy.
Trump’s victory or defeat is not a mere matter of taste or ideologies. This fact could mark the future of cryptocurrencies, considering the tycoon’s campaign promises. These promises include regulation and the inclusion of BTC in the country’s strategic reserves. On the other hand, a victory for the Democratic opponent, Kamala Harris, is seen as a prolongation of the current negative regulatory situation in the North American country.
In simple words, this is a delicate scenario that keeps investors and bettors in a position of deep uncertainty. On the Polymarket platform, Trump’s lead recedes significantly and is now more even with Harris. An analogous situation occurs with other betting platforms.
Trump’s lead over Harris declines among bettors. Source: Polymarket
Trump loses ground on Polymarket and other platforms
As already mentioned, anxiety seems to grip U.S. election bettors. Thus, from total security in a Trump victory, the matter now appears more even. For example, Polymarket, the right-wing magnate, had a preference of almost 67% on October 29. Meanwhile, Harris had 33%
At the time of writing, the data is still favorable to Trump, but with a moderate 53.9%, while Harris has 46.2%. On the other hand, on the Kalshi Data platform, the relationship is 51% versus 49% in favor of the Republican.
Meanwhile, the PredictIt platform offers a notable lead for leftist Kamala Harris, with a 56% to 47% ratio. As you can see, the variation in percentages depends largely on the wishes of the particular users of each platform.
The uncertainty of the surveys extends to the digital betting sector. This factor is decisive in undermining the confidence that investors had until recently. It should be noted that the presidential elections in the US will take place this Tuesday and a reasonable amount of time is expected to know the final results.
In 2020, voters waited 4 days to know the final result that declared Joe Biden the winner. The waiting period could be one of enormous volatility for the main cryptocurrencies.
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