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October 31, 2020
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Guide & Analysis

Trump’s possible hospital discharge makes Bitcoin reach $ 10,750

Bitcoin and most altcoins have increased slightly since yesterday, with news that U.S. President Trump may be discharged today.

Despite some fears that Bitcoin and U.S. stock futures may fall after President Trump’s hospitalization, markets have remained calm. In fact, BTC and some altcoins had smaller gains, and market capitalization increased by about $ 6 billion in one day.

Do Trump’s rise and the financial stimulus package affect Bitcoin?

As reported yesterday, BTC remained calm over the weekend. However, President Trump’s hospitalization on Friday, after Wall Street closed for trading, raised some concerns that when future stocks opened on Sunday, all markets could move on.

However, such a scenario has not yet materialized. US stock futures opened for trading hours ago, but there is no volatility in either direction.

The situation changed after Trump’s doctors claimed he was “fine” and could be discharged today. In addition, circulating reports of new economic stimuli could actually raise prices, as they did before.

The increased correlation between Bitcoin and Wall Street could generate gains for the cryptocurrency. In the past 24 hours, BTC has started to rise slightly.

Bitcoin exceeded yesterday’s range between $ 10,500 and $ 10,600 and reached $ 10,750 a few hours ago. Since then, the asset has declined slightly to $ 10,670, but is still up 1% on a 24-hour scale.

Altcoins

Most altcoins are green today. Ethereum jumped 1.5% and trades are over $ 350. Ripple is the most significant winner in the top 10. After a 7% increase, XRP approached $ 0.25

Binance Coin (2.5%), Bitcoin Cash (1%), Polkadot (3%), Chainlink (3%), Cardano (5%) and Crypto.com Coin (1.2%) have also increased in value since yesterday .

Trump's possible hospital discharge makes Bitcoin reach $ 10,750 25

The most impressive winner for the third consecutive day is PumaPay (11%). PMA has found a place in the top 100 and is trading above $ 0.002. Celsius (11%) and Zilliqa (10%) are the other representatives of the double-digit price increase club.

In contrast, UMA fell 9.5%, Energy Web Token 8% and Ampleforth 7.5%. Despite these losses, the total market value increased from $ 334 to $ 340 billion.

Source: cryptopotato

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