Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.
Comparison of three-day changes in BTC's price and Republican election odds between June 1 and Aug. 15 show lack of definitive correlation between the two variables., crypto market experts have consistently associated the Republican candidate's performance on betting markets with bitcoin's price.
The X-axis shows the three-day percentage increase or decrease in BTC's price between June 1 and Aug. 15. The Y-axis represents the increase/decrease in the odds of a Republican victory. Data has been sampled every 12 hours. The red dots show a scattered pattern, implying no connection between shifts in Republican odds and changes in BTC's price. The blue and grey dots show a similar pattern.
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