Deniz 
Wall Street broker Bernstein said in a research note on Monday that the market mood indicates that Donald Trump winning the U.S. elections in November would be positive for cryptocurrencies and a Kamala Harris victory would be negative. The broker argues that when Polymarket projections and polls turned Harris’s way, bitcoin lost value. According to the broker, Trump fans have referred to the change in odds as an initial honeymoon phase.
Following the change in Polymarket odds and polls in Harris’s favor, the broker observed that bitcoin has lost value, so it expects the world’s biggest cryptocurrency to “remain rangebound until there is a clearer election signal.” Republicans have referred to this as the “initial honeymoon phase” and contend that polymarket odds are easily manipulated, the newspaper added.
Trump’s side has been extremely outspoken about its crypto policy, Bernstein observes, and has interacted with businesses in the industry, bitcoin (BTC) miners, as well as the larger community.
“The Trump-led Republican side has made a strong pitch to crypto voters by promising favorable policy for bitcoin and crypto innovation, even teasing a potential national bitcoin reserve,” analysts led by Gautam Chhugani said.
In a speech last month at the Bitcoin Conference in Nashville, former President Trump promised to keep a strategic national bitcoin reserve and declared he would never sell the government’s seized bitcoin should he be elected once more.
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