FX168 Financial News Agency (Asia Pacific) - The results of the 2024 USA presidential election have been announced. The Decision Desk Headquarters (DDHQ) declared that the Republican presidential candidate Donald Trump has secured 270 votes, defeating the Democratic presidential candidate Kamala Harris with 213 votes, starting his second term as president. On Wednesday, November 6, at the close of the Asian market, the US dollar and Bitcoin surged again, while gold plummeted rapidly to $2710. #LatestBitcoinNews#

(Gold daily chart, Source: FX168)

(Bitcoin daily chart, Source: FX168)

(USD index daily chart, Source: FX168)

Update on USA election results: Trump opens his second term with 270 votes #USAelection#

(Source: DDHQ)

The Hill quoted the Decision Desk HQ website as saying that Trump is expected to win the presidential election. Four years ago, he left Washington burdened by shame and an uncertain political future, but now he has finally secured a second term as president. DDHQ made the decision after announcing that Trump is expected to win Pennsylvania and Alaska (giving him exactly 270 electoral votes).

Trump defeated Vice President Harris in this election, with many unexpected developments occurring during the campaign: Trump faced criminal trials, the former president survived two assassination attempts, and the Democratic candidate list changed after President Biden withdrew from the race.

Trump becomes the first president in over 120 years to lose the White House and then regain it, following President Grover Cleveland in 1892.

After a fierce 100-day campaign against Harris, Trump secured the 270 electoral votes needed to enter the White House. Polls in the 7 key battleground states showed a very close margin between the two candidates on election day.

Trump ultimately achieved a landslide victory, reclaimed support in Georgia, gained control of North Carolina, and broke the 'blue wall.' He is expected to win the popular vote by a narrow margin, something he failed to achieve in 2016 and a feat the Republican Party has only accomplished once since 1992.

Trump and his running mate Senator Vance used voter dissatisfaction with rising costs, surging immigration at the southern border, and foreign instability during the Biden administration to appeal to voters to support his policies.

Polls show that Trump has made significant progress among Latino voters, solidifying his advantage in rural areas, and his support among young male voters is almost equal to Harris, a group actively sought after by Trump's campaign team.

Trump has promised to implement the largest deportation operation in U.S. history, extend the tax reduction law he signed in 2017, impose universal tariffs on foreign imports, abolish protection for transgender youth, shut down the Department of Education, and restrict environmental regulations. He also hinted at seeking loyal supporters for his government.

Billionaire Elon Musk explicitly voiced his support for Trump, sharing a photo of himself sitting together with Trump and Dana White at a Lake House event.

With the Republican Party regaining a majority in the Senate, Trump's election may provide an opportunity for the Republican president to strengthen conservative control of the Supreme Court.

Looking back, Trump entered the White House in 2016 with a slight advantage, but his bid for re-election failed in 2020. In the weeks following that election, he has been promoting unverified claims of widespread fraud, culminating in the violent assault on the Capitol on January 6, 2021, where his supporters attempted to disrupt the certification of Biden's victory.

In 2023, he faced federal charges in Washington D.C. for attempting to retain power after losing the 2020 election. However, Trump has stated that he will swiftly dismiss the special prosecutor Jack Smith responsible for the case, thereby halting significant legal proceedings against him.

Trump's rhetoric and actions during his first term have raised questions from several former cabinet officials and senior aides, with some comparing him to a dictator. In 2023, he was indicted in four different jurisdictions and was found guilty of 34 major crimes in New York City in May of the same year. He was impeached twice during his first term and left office with a support rate of less than 40%. In 2021, he left Washington without attending his successor's inauguration.

If Trump is found guilty, his political career may come to an end, and he will be unable to run for president again. However, he now has the potential to further change the image of the Republican Party, as McConnell's Senate leadership position will also come to an end in January next year.

Some people's predictions about the end of Trump's political career were wrong. As the facts have shown, due to a loyal base of supporters, Trump easily secured the Republican nomination. In July this year, he seemed to be on the path to the presidency, but survived an assassination attempt and gained the full party support at the Republican convention, leading in polls against Biden.

Trump, at the age of 78, is the oldest elected president in American history, slightly older than Biden in 2020. Despite his previous willingness to disclose detailed medical records, he has refused to do so.

Trump will be the second president in U.S. history to serve two terms, but his term will be limited by the 22nd Amendment to the Constitution, meaning he cannot seek reelection in 2028.

"Trump trade" frenzy: USD, Bitcoin emerge as big winners, while gold plunges rapidly.

Bitcoin surged by over 8%, indicating its prominent role in the 'Trump trade.' With increased bets on Trump's presidency, the prices of cryptocurrencies hit historical highs of over $75,000.

With Republican Bernie Moreno defeating Sherrod Brown in Ohio, this may signal a renewed strength for cryptocurrencies. Brown has long criticized the crypto industry, questioning its legitimacy. Meanwhile, Moreno, after establishing a series of car dealerships, founded a blockchain-based company for digitizing car ownership.

The political action committee Fairshake spent over $40 million in the final weeks of the 2024 U.S. election, having previously spent $0.14 billion in dozens of congressional campaigns. Fairshake aims to push both party candidates to take cryptocurrencies seriously.

Saurabh Tandon, the global head of forex options at Standard Chartered Bank in Singapore, made some comments on this: "With the election results announced, we are seeing a sharp drop in front-end volatility. The USD initially strengthened, with EUR/USD performing better than many currency pairs with higher election weights such as JPY and RMB, then we saw volatility quickly repriced."