Tic-tac, Tic-tac. The 2024 US presidential elections are approaching, and all eyes are on the implications for Bitcoin and the crypto market. The battle between Donald Trump and Kamala Harris could redefine US crypto policy. What does this election have in store for the future of cryptocurrencies? Let’s take stock this morning.
Trump vs. Harris: Two radically opposing visions for crypto
For several months, Donald Trump has appeared as an ardent defender of cryptocurrencies, promising to make the United States the “ crypto capital of the planet “. He positions himself as the champion of crypto investors, with a stated desire to reduce regulatory constraints and even to replace the president of the SEC, Gary Gensler, considered too hostile towards the sector.
For his part, Kamala Harris takes a more measured approach. Although she has kept a low profile on crypto, she appears open to discussions with industry leaders to establish a “safe and transparent” framework. If Harris wins, we can expect a regulatory policy that aims to protect consumers while allowing emerging technologies, such as blockchain, to develop in a controlled manner.
Bitcoin under Pressure: Volatility rises with the approach of the US presidential election
The Bitcoin already showing signs of nervousness. Between October 29 and November 3, its price fell by 8 %briefly reaching the 67 446 $. This climate of uncertainty increases the risks of volatility in the days to come, especially with the Federal Reserve which could also influence the market with its monetary policy decisions.
Traders and investors are eagerly awaiting the outcome of this election, with some betting on a rise in Bitcoin in the event of a Trump victory, while others expect increased stability under Harris. Even the titans of finance have their best predictions.
Regulation of cryptos: Towards a revolution or an evolution?
The outcome of this election could redefine the bases of crypto regulation in the United States. A victory of Trump would probably mean deregulation favorable to large companies in the sector, with a desire to let the market develop without too much intervention. On the other hand, an administration Harris could introduce stricter regulations but potentially beneficial in the long term for the secure adoption of cryptocurrencies.
Congress will also play a decisive role in formulating laws, but the political direction of the White House will determine the attitude of federal agencies towards cryptos. With Harris, we can expect a policy of prudence and investor protection; with Trump, to a freer but also more risky environment.
The stakes are historic and not just for cryptocurrencies. While the geopolitical and macroeconomic context is what we know and observe daily for you, at readers, the two candidates have very different visions: Trump could attract massive investments with a deregulated approach, while Harris could solidify the industry with more structured regulations. Whatever the outcome, the next few weeks will be decisive for the future of cryptos in the United States and, by extension, around the world.
So, investors, get ready! The countdown is on… watch on our live stream.
