2024

Donald Trump

President Donald Trump

<p>As the 2024 U.S. presidential election approaches, the crypto community is keenly observing how the outcome could affect the market. Both Kamala Harris, the Democratic candidate, and former President Donald Trump are expected to impact Bitcoin and the broader cryptocurrency market, but in different ways.</p>  
<h3 class="wp-block-heading" id="h-possible-impact-of-a-kamala-harris-presidency"><strong>Possible Impact of a Kamala Harris Presidency</strong></h3>  
<p>Kamala Harris, known for her restrained stance on cryptocurrency, could present challenges for the broader crypto market. <a href="https://www.vaneck.com/us/en/blogs/digital-assets/matthew-sigel-vaneck-mid-september-2024-bitcoin-chaincheck-1-year-review-edition/#impact-of-election" rel="noopener noreferrer nofollow">Experts at VanEck, a major digital asset research firm,</a> suggest that a Harris administration might maintain Gary Gensler as SEC Chair, which would likely result in stricter regulatory policies for the crypto industry. Aligning her financial policies with the more regulatory-focused wing of the Democratic Party, represented by figures like Senator Elizabeth Warren, could create an environment that hinders institutional adoption of digital assets.</p>  
<p>While this regulatory tightening might slow the overall growth of cryptocurrencies, VanEck speculates that Bitcoin could actually benefit from such a scenario. Increased fiscal spending and tighter regulations could push more investors to see Bitcoin as a hedge against economic uncertainty and inflation. In other words, a Harris presidency could indirectly boost Bitcoin’s appeal as a safe haven asset.</p>  
<h3 class="wp-block-heading" id="h-what-a-trump-presidency-means-for-crypto"><strong>What a Trump Presidency Means for Crypto</strong></h3>  
<p>On the other hand, a Trump presidency would likely favor the entire cryptocurrency ecosystem. Trump has positioned himself as a pro-crypto president, advocating for deregulation and business-friendly policies. Under his leadership, the crypto sector could experience less regulatory scrutiny, providing a more conducive environment for growth and innovation.</p>  
<p>VanEck analysts believe that a Trump administration would be more favorable for the broader crypto market. Deregulation could especially benefit crypto entrepreneurs and lead to an expansion of the market.</p>  
<h3 class="wp-block-heading" id="h-bitcoin-s-future-under-either-presidency"><strong>Bitcoin’s Future Under Either Presidency</strong></h3>  
<p>Despite differing views on how Harris or Trump might impact the crypto sector, most analysts agree on one thing: Bitcoin is poised for growth, no matter who wins. Bernstein, a major investment research firm, predicts that Bitcoin could surge to between $80,000 and $90,000 if Trump wins the election. However, if Harris wins, the market could see Bitcoin's price testing the $30,000 to $40,000 range in the short term.</p>

Coinpedia Fintech News

Table of Contents

CoinPedia News

Other articles published on Sep 22, 2024

Bitcoin Poised for Explosive Rally Against Gold and US Dollar in 2025

Woman Sentenced to 8 Years in Failed Bitcoin Murder-for-Hire Plot

Arbitrum Set to Hit $200B Trading Volume on Uniswap, First L2 to Reach Milestone

Is BingX’s Security Strategy Effective?

U.S. Debt Concerns Loom Over Elections

Hamster Kombat allocation disappoints gamers; what this means for listing price this week

Join our free newsletter for daily crypto updates!