Bitcoin Hits $55K Ahead of Trump-Harris Match

Bitcoin rose above $55,000 in the European morning hours after remaining between $54,000 and $55,000 throughout the weekend.

This week, investors will keep their eyes on the August CPI and PPI data, which will be released on Wednesday and Thursday, respectively. Before that, presidential candidates Donald Trump and Kamala Harris will face off ahead of November.

Bitcoin is expected to reach new highs towards the end of the year if Donald Trump wins the US elections in November, and the cryptocurrency could reach $90,000 by the fourth quarter, brokerage firm Bernstein said in a research report published today.

The report stated that if Kamala Harris wins the election, the cryptocurrency could test the $30,000 to $40,000 range.

The broker stressed that Trump is ambitious about making America the “bitcoin and crypto capital of the world” and mentions digital assets in every policy speech he makes.

Cryptocurrency exchange Woo X has introduced a “more advanced and fairer version” of copy trading, which involves trading by imitating the market activity of experienced traders.

Copy trading, or “social trading” as Woo X calls it, is not a new term in either crypto or traditional finance. The method was popularized by fintech platform eToro and the service is also offered by many major crypto exchanges like Binance and OKX.

But according to Woo X COO Willy Chuang, some changes need to be made to the current model and the pressure on leading traders to outperform needs to be reduced. All of this has led Woo X to add a “countertrade” option.