And although Bitcoin is perceived to be linked to the Trump campaign due to its relationship with the crypto industry, for some experts the The real influence of the elections on the digital asset market seems somewhat exaggerated. This link between Trump and cryptocurrencies arose from the investment of large sums of money in promoting his agenda during the campaign.
Furthermore, Trump’s position of turning the US in a global crypto capital contrasts with the proposal of Kamala Harriswho supports greater regulation of the industry. Nevertheless, both candidates imply a change in the face of the restrictions that were implemented during the administration of Joe Bidenand in that, there is consensus among market participants.
From now on, it must be noted that this election is different, because interest in cryptocurrency issues became more relevant among voters. In fact, according to data from the north, approximately 25% of millennials and generation Z own crypto assetssuggesting that this group is increasingly involved in the debate about the future of the industry.
The US elections under the magnifying glass of the city’s exchanges
Bitcoin arrives at the meeting on Tuesday, November 5, at more than 7% of its all-time high, after losing 1.5% in the last few hours, but in October, the largest crypto by marketcap gained close to 15%. The rest of the tokens followed a similar trend, with increases in Ethereum and Solanaand a jump from 23% in Dogecoin driven by Elon Musk mentions at Trump rallies.
Thus, the verdict of some analysts is that a victory for Harris could cause the price of Bitcoin to fall, although the crypto market would maintain its growth in the long term. “It is inherent to whoever wins“, indicated the majority of those consulted by Scope in Labitconfthe most important crypto symposium in Latin America that took place in the city over the weekend.
The strategists of GoodBit They pointed out in statements to this medium that “never before has a presidential election been so crucial for the price of Bitcoin. With the growth of the crypto ecosystem, The confrontation between Trump and Harris became key”. As explained by the exchange, many investors support Trump for his pro-crypto approach.
“His election could give a big boost to the industry, as it promises to encourage cryptocurrency mining and establish a National Bitcoin Reserve. On the other hand, a victory for Harris could bring more regulation, generating uncertainty in the market,” they indicate, adding that “currently Bitcoin is very close to its last all-time high, so a possible victory for Trump, could push the cryptocurrency to new values never seen before”.
José Luis del Palacioco-founder of Decryptoanalyzes that the common perception is that certain binary events, “such as presidential elections, can make the market shoot in one direction or another”, whether the reaction is positive or negative.
However, he explains that if the medium term is analyzed, tI see the cryptocurrency market, like the traditional capital marketshow an upward trend that seems to have already been consolidated. “The projection for the next one remains optimistic; We could see the value of Bitcoin double or even triple. The growth trend, in reality, will not change depending on who wins the elections.”
Del Palacio recognizes that in the short term “there may be high volatility due to immediate market reaction to these events.” But even so, for those who look at the long term, the outlook is very promising, he says. “The expectation is that this market will continue to expand, with an upward direction beyond temporary fluctuations,” concludes the expert.
Bitcoin and the catalysts 2025
Alejandro Estrincountry manager of OKX For his part, he comments that the choice mixes “what one would like with what one really believes will happen”. And it explains that all market participants would like to see a new all-time high for Bitcoin that also boosts all altcoins, which would mark the beginning of a bullish cycle.
“Nothing attracts more people to the crypto market than Bitcoin prices, as they generate FOMO (fear of missing out) everywhere, more news and widespread interest. “In that sense, I hope this happens,” he adds. “There is great expectation around the elections, and the market is very attentive to it.”
However, for Estrin, regardless of who wins, “the best thing that could have happened within the framework of the electoral contest is that cryptocurrencies, blockchain technology, Bitcoin and the ecosystem as a whole are on the discussion table”.
“Both candidates and the US Congress and Senate addressed these issues head-on. There are now numerous bills and regulations in the works not only there, but almost around the world. This is positive for the sector, and best of all, it is beneficial regardless of the outcome of the elections.”, he concludes.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
