Quote from: Fortify on Today at 08:36:26 PM

Quote from: shield132 on Today at 09:35:44 AM

Yesterday Bitcoin's price was a little down and I was reading on many websites that it was caused because of the Trump-Harris debate. Today as we see, Bitcon's price is up and reached 58K USD but today also crypto news websites publish that the reason behind crypto price recovery is the result of Trump-Harris debate where Harris won in many polls.
Do you also think that this is true? The crypto community expects a positive impact from Trump and since Trump lost, if the debate was the reason for the price dip yesterday, then it shouldn't be up today because Harris won the poll.
Is this true or do crypto news websites use this debate as a clickbait?

Everyone is always trying to link events to price moves in cryptocurrency but the reality is that there are just too many variables to accurately calculate. There have been extreme instances, like a big exchange getting hacked or when bitcoin ETF's were announced, where the timing is too coincidental to be anything else, but it's rare that more mundane events like a presidential debate is likely to have a strong effect. It's more likely to be economic related news that causes it to bounce or drop, so try to see past the politics unless a candidate says something specifically referencing crypto. The fact that the jobs market and the inflation rate in the US are stabilizing is likely fueling this latest rise.

I wouldn't be surprised if the campaign had a contributory effect on the price of Bitcoin currently because Trump is an advocate for the use of Bitcoin and cryptocurrencies foremostly because he accepts donations via crypto currency for his campaigns and his audience either have crypto currency holdings or investment or farms that mine crypto, that is as a result of cryptocurrency growth and future acceptance.
The price currently could also as rightfully said be a result of many other factors, but one thing to note is that, any serious investor would buy the dip, ignore the fomo and know how to cast their votes for the right candidate at the right time.