As the U.S. presidential election approaches, Bitcoin has surged, recently reaching $73,000. While the potential victories of Donald Trump or Kamala Harris are discussed in terms of crypto market impact, analysts highlight longer-term drivers.
The Election's Role in Bitcoin's Movement
Some investors speculate that a Trump victory could buoy Bitcoin, whereas a Harris win might bring short-term volatility. Analysts, however, point to weak correlations between political dynamics and cryptocurrency movements. Prediction platforms like Polymarket have faced allegations of data manipulation to inflate Trump's odds.
Bitcoin's Long-Term Prospects
Analysts from Bernstein project a bright future for Bitcoin, election results notwithstanding. By 2025, Bitcoin’s price is expected to surpass $200,000, fueled by ETF popularity and institutional capital. The growth of the digital financial sector and demand for stores outside traditional finance support this outlook.
Political Stance on Crypto Industry
Trump has shown interest in crypto through the launch of World Liberty Financial, whereas Harris remains cautious. Regardless of the election outcome, both administrations have the potential to support the industry through legislation and SEC reform.
While elections may cause short-term volatility, Bitcoin's long-term prospects are supported by institutional interest and market structural factors.
