Bitcoin (BTC), is one of the key years in 2024. In March, the asset reached a record high and now awaits the benefit of the half-off.
In the midst of this, many have looked at BTC’s potential increase or decrease following the U.S. Elections. The real question, however, is whether geopolitical developments will have an impact on the king-coin.
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Elections in the U.S. The Impact of U.S. Elections on Bitcoin
Cryptocurrency in the U.S. Presidential Campaign
In the U.S., cryptocurrency has played an important role. Donald Trump’s renewed interest for the cryptocurrency industry has turned some heads. Some accused Trump of using Bitcoin as a way to impress industry leaders, while others applauded his crypto-friendly stance.
Kamala Harris doesn’t appear to have a strong interest in Bitcoin. In this context, it is important to consider the November election.
Markets’ Preference for Trump
To be sure, though, there is a lot of support for Trump in the business community. BTC is expected to rise in value if Trump wins. BTC, however, could drop if Harris is elected.
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Experts’ Opinions on Bitcoin Future
Steven Lubka of Swan Bitcoin thinks that Bitcoin can be a great asset, regardless of the results in the election. Lubka added,
“Do I think we’ll be in the six figures by 2025? Almost certainly. Do I think we’ll be in the six figures regardless of who wins? Almost certainly. Bitcoin has always been an investment that is rooted more in the fiscal and monetary profile of countries, sovereigns and the United States. Neither candidate changes that.”
Bitcoin Performance under the Current Government
The idea that Harris would win and the king-coin could dip was a fantasy. Lubka said that Bitcoin had a great year and reached an all-time record of $73,750.07 during the time when this government was in power. He added.
“(Bitcoin) has been one of the most successful assets in the world during a period where everyone was opposed to it. Governments have traditionally been at least mildly hostile to bitcoin during its whole history, and it’s done extremely well.”
BTC has risen 3% in the last 7 days, and currently is valued at $57,791.30.
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Source: watcher.guru