Bitcoin fluctuating in shadow of Tuesday's pivotal US elections

By Gokhan Ergocun

ISTANBUL (AA) - The price of Bitcoin is fluctuating as the world's largest economy, the US, has finally reached what promises to be a pivotal Election Day.

During the last 24-hour period, the price of the largest cryptocurrency saw a low of $66,803.65 and a high of $69,201.57.

It was at $73,500 level a week ago, and lost around 7% in the seven-day period to the $68,900 level currently as of GMT0900 Tuesday.

If Republican candidate Donald Trump wins Tuesday’s presidential race, the market expects positive developments for cryptocurrencies, as he pledged that the US will be the “crypto capital” of the planet.

"If crypto is going to define the future, I want it mined, minted and made in the USA. It is not going to be made anywhere else," Trump told July’s Bitcoin Conference in Nashvillle, Tennessee, in the US.

The market size of Bitcoin has recently been at $1.36 trillion, according to Coinmarketcap figures, with a 24-hour trade volume of $42.08 billion.

Ethereum, the second-largest cryptocurrency, over the last 24 hours has also hovered between $2,359.58 and $2,483.05.