Matrixport released today's chart stating that the price of Bitcoin was around $700 per coin when Trump was first elected in November 2016 and has risen sharply in his first year in office.
While a single data point is not enough to create a trend, optimism in the market remains high, with many believing that if Trump is re-elected he will deregulate and Bitcoin could be set for further upside. The betting markets are currently projecting a 66.5% probability of a Trump victory, or one of the largest lead margins in history.
Meanwhile, demand for Bitcoin continues to increase, with recent single-day Bitcoin ETF purchases amounting to $800 million, further reducing the supply of Bitcoin on exchanges.