As the U.S. presidential election approaches, Bitcoin garners attention by reaching $73,000. Possible impacts of a Trump or Harris victory on the cryptocurrency are discussed.
Exploring the 'Trump Trade': Myth or Reality?
Among crypto enthusiasts, some believe Trump's victory would lead to tax cuts and protectionist policies favorable for Bitcoin. However, analysis shows a weak correlation between Bitcoin prices and Trump's odds of winning. Concerns about prediction markets' reliability have arisen amid manipulation accusations.
Bitcoin's Long-Term Prospects Beyond Elections
Analysts from Bernstein suggest Bitcoin's future is bright regardless of election outcomes. They project a rise to $200,000 by 2025 due to Bitcoin ETF popularity and institutional capital influx.
Policy Divergence: Trump's Crypto Pivot vs. Harris' Caution
Trump's recent interest in crypto stirs curiosity and concern. He launched the World Liberty Financial project and supports U.S. Bitcoin mining. Harris' administration might adopt a cautious approach amid current regulatory tensions.
Despite political speculations, Bitcoin's core strengths like decentralization and institutional capital attraction ensure its resilience. The long-term trajectory of Bitcoin is likely to be shaped by structural factors rather than solely by political events.
