The support from the industry is a big boost for former President Donald Trump, who is now embracing crypto radically after years of skepticism before Trump said he would do soStopping government hostility towards crypto
This image is inspired by Gary Gensler, Chairman of the Securities and Exchange Commission (SEC).Making the US the crypto capital of the world If he is elected president again
At the same time, US Vice President Kamala Harris, the Democratic presidential candidate, has not announced an official position on crypto.
However, VanEck analysts believe that Harris’ election win could be an even bigger boost for Bitcoin.
Will Kamala have a more positive impact on Bitcoin than Trump?
When it comes to whether Kamala Harris’s presidency will be good for the crypto industry, opinions are divided. According to VanEck analysts, the fear that President Harris will stop the price of Bitcoin from continuing or put it lower is overblown.
Matthew Sigel, VanEck’s Head of Crypto Research, and Nathan Frankovitz, the firm’s Crypto Investment Analyst, said in a statement.reporton 19 September that Harris is likely to continue with the current economic policies. which they think will weaken the US dollar and encourage Bitcoin adoption
“We argue that a Kamala Harris presidential term could be better for Bitcoin than a second Trump term because, in our opinion, This will help accelerate many of the structural problems that caused the adoption of Bitcoin in the first place,” they said.to write “If that’s true. Bitcoin’s unique regulatory clarity is likely to make it more competitive than other digital assets.”
The strategist added: “As inflation and deflation continue to challenge the broader financial system, Bitcoin can be an important hedge.”
However, Sigel and Frankovitz believe that the crypto industry as a whole, not just Bitcoin, will benefit from a second term of Trump’s presidency.
“On the other hand, We believe that Trump’s presidency will generally be reassuring for the entire crypto ecosystem, as it is likely to deregulate and support more business-friendly policies. This is especially true for crypto operators, which regulators have been scrutinizing more and more over the past four years,” the report said.
BTC will hit $200,000 in 2025 regardless of who wins the election.
However, analysts believe that Bitcoin will grow in the long term. Whoever wins the US presidential election. Even in November
“Regardless of the election results,” VanEck’s team said, “the trend of growing fiscal deficits and increasing national debt will continue. This indicates a weakening of the US dollar. This is the macroeconomic environment that has supported Bitcoin’s growth in the past.”
At the same time, Geoff Kendrick, the global head of digital asset research at the British Bank Standard Chartered, said that he expects the price of Bitcoin to rise regardless of who is the president, reaching $ 200,000 by the end of 2025
Source: ZyCrypto
2024-09-22 11:00:05
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