In both scenarios, broader economic policies such as inflation control, monetary policy, and international trade will be important in shaping Bitcoin’s price.
A recent survey in the United States revealed that 26 million voters in the country belong to the “cryptocurrency voting bloc,” with 16% prioritizing pro-cryptocurrency policies when choosing a candidate. Ta.
Shivam Thakral, CEO of BuyUcoin, India’s second-longest operating digital asset exchange, said in an interview with Bizz Buzz, “This is an important political move in favor of cryptocurrencies. “It highlights the momentum.”
The future looks bright for the cryptocurrency industry as financial institutions continue to grow and investor support for regulation increases. As the 2024 elections approach, this bloc could have a significant impact on key electoral races, highlighting the growing importance of cryptocurrencies in politics.
“The election could have a significant impact on Bitcoin (BTC) and the broader crypto market,” said Ryan Lee, Principal Analyst at BitGet Research. “Key factors play a key role in shaping market dynamics.” . From a cryptocurrency and BTC perspective, it is essential to understand the candidate’s stance on regulation, taxation, inflation, economics, innovation, blockchain, and approaches to CBDCs and stablecoins. ”
If Kamala Harris wins, there could be more regulation as well as more innovation in blockchain technology and digital currencies. This could create a more structured, compliant and mainstream environment for cryptocurrencies, but could also lead to short-term market instability due to regulatory concerns, he said.
On the other hand, a Donald Trump victory would reduce regulatory pressure but could increase market volatility related to economic and foreign policy, Lee added. Trump has expressed support for Bitcoin, and if his chances of victory are high before the election, a “Trump trade” effect could emerge, allowing institutional investors to profit through Bitcoin trading. .
In either scenario, broader economic policies such as inflation control, monetary policy, and international trade will be important in shaping the price of Bitcoin and the direction of the overall cryptocurrency market.
