Bitcoin continues to see-saw on election reports

With today's election still raging, and the battle states tipped to decide the final outcome of the most contested presidential race ever, crypto markets have been listening closely.

Bitcoin, experts say, could benefit greatly from the election, as each race has been beneficial to the value of the crypto token. Yet, as election results are trickling in, Bitcoin has taken a solid tumble back to $13,732.

Why the gloom? Unlike other elections, this one has proven way too volatile. Trump and Biden are neck-and-neck in many of the swing states, with mail votes trickling in, and supposedly favoring the Democrats, who are leading in the electoral college polls, but don't seem to be leading in the states that will decide the election and are yet to be announced.

Volatility throughout the election will continue to pummel and uplift the token time and again until one clear winner is set. Pundits are not quite sure which candidate makes the better deal for Bitcoin.

Crypto sportsbooks, though, including Cloudbet, reported that the majority of their wagers – some 80% in fact – have been placed on President Donald Trump to win. In other words, should POTUS win, bookies will have a long, long recovery to make.

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Written by Tudor

Works as a developer and helps keeps the digital cogs turning. Leave them alone, they're busy.

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