Yes they are speculation of the market. And today and tomorrow Bitcoin will hit $64k and if care is not talking, bitcoin will hit $56k in tomorrow night and it will reduce to $50k this week and after the election. Before bitcoin price will rise again. As it is the price has started coming down. This morning the price was $69k but now it is $67500.
And since it is a speculation, let's see what will happen after the election tomorrow.
We are very close to the result. Probably we have to wait less than 24 hours from now on. We are going to 69K again. If Trump wins, and if the Bitcoin market is really going to change based on the election result, then can we expect 80K this month? I expect 80K this month if Trump wins and we can get the result in a couple of hours. As we know, the country is too big and it will take some time to compile the entire result. Let's wait for the result.
Final results and official announcement of the election will be made in December when the electoral college voting and counting are complete. But we will know the results soon after 1 or a few days when the popular vote ends because the electoral votes are counted based on the popular vote.
From what I have observed, bitcoin price has been quite volatile over the past few days and has correlated with support for Trump. The price dropped below $68k 2 days ago and that was also when Trump's support dropped. But today the price suddenly rose back above 69k and coincidentally according to some reports, support for Trump increased again.
I think there will be a lot of volatility on election day but at the end of the day, bitcoin volatility may somewhat reflect the outcome of the election. So let's wait and see how Bitcoin performs in the next 24 hours.