After a continuous price drop in the past few days, the cryptocurrency market sentiment seems to be shifting as former President Donald Trump's chances of winning the US election increase. This speculation comes after Vice-President Kamala Harris considered nominating SEC chairman Gary Gensler as Treasury Secretary if she is elected president.
Crypto Market Rising: Why
Following this report, the sentiment has started to shift towards bullish, resulting in significant price surges in top cryptocurrencies such as BNB (BNB), XRP (XRP), Toncoin (TON), and Tron (TRX). According to the data, if Harris makes such a statement, there is a high possibility that crypto investors may not support her.
Trump's Promises to Americans
On the other hand, Trump recently promised “gigantic tax cuts” to Americans. Currently, inflation remains a top concern among voters in the United States, leading Americans to increasingly consider Bitcoin and other crypto assets. According to Grayscale, Trump stated he intends to “keep 100% of all the Bitcoin the US government currently holds.”
Kamala Harris' Positions
Recent press reports indicate that key advisor picks by Harris may suggest a pro-crypto pivot. However, concrete crypto policy plans are still pending from both candidates.
Recent statements by US presidential candidates are causing significant shifts in the cryptocurrency market. Investors and voters are eagerly awaiting concrete policy plans to understand the future prospects for the crypto market.
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