The price of bitcoin (BTC) is once again approaching $70,000a figure that he has managed to exceed on several occasions during the day.
As can be seen in the following graph of TradingViewthe market looks for that area again and again (it is not an exact price), but there is great selling pressure there that takes it down again.
This bullish behavior may be influenced by the fact that In several key states in the United States, Donald Trump would be emerging as the winneraccording to data from some surveys.
Consulting firm HarrisXData, for example, reports that Trump would be winner in Arizona, Georgia, Nevada, Pennsylvania and Wisconsin.
In the United States presidential election, the key states, also known as «swing states” either “battleground states«, play an important role due to the country’s electoral system based on the Electoral College.
This system assigns a number of electoral votes to each state based on its population, and in most states, all electoral votes are awarded to the candidate who wins the majority of popular votes in that state, regardless of the margin of victory.
As a result, states where electoral preference is not clearly defined by a single party, that is, those that can swing between voting for Democrats or Republicans, become decisive. These key states are those where polls show close competition between candidates, and a relatively small change in the vote can significantly influence the national outcome.
The reason these states receive so much attention and resources during campaigns is that, although they only represent a small part of the country in terms of number, their control can determine who reaches the 270 electoral votes needed to win the presidency.
This means that, while states like California or Texas have a predictable partisan tilt and allocate a fixed number of electoral votes, key states like Pennsylvania, Florida, or Michigan can lean toward either party.
Here, every vote counts more, as the candidate who wins these states could secure national victory. Therefore, candidates concentrate their efforts in these states, trying to persuade undecided voters and mobilize their bases, which explains their strategic importance in presidential elections.
Why does the bitcoin price “prefer” a victory for Donald Trump over Kamala Harris?
Let us remember that, as CriptoNoticias has explained, Trump has positioned himself as the favorite candidate, in general, of bitcoiners. Therefore, a victory for him could be an upward driver for the price of the digital currency.
The former president who seeks to reach the White House again has won the bitcoiner vote by promising, among other things, that he will create a strategic national reserve in bitcoin. In addition, he assures that he will implement laws that will favor cryptocurrency mining.
Instead, a Kamala Harris government would largely be considered a continuation of the current Joe Biden administration, which does not enjoy the majority of the bitcoiner public. The “attacks” on the cryptocurrency industry by the current administration of the Securities and Exchange Commission (SEC) work against the Democratic Party candidate.