The U.S. presidential election can affect many things, including the economy and even Bitcoin as we know about it today. Bitcoin is a digital currency that people trade like money. Its value can go up or down based on how people feel about the future. When a new president is chosen (especially in the US), they can implement policies that can change the way people view Bitcoin. If they make laws that favour the crypto market, then prices of digital assets could go up. However, if the market does not get any support from them, the price might drop. Right now, people are wondering what will happen to Bitcoin if Donald Trump wins the election, or if Kamala Harris wins. Let us look at both possibilities.
What If Donald Trump Wins?
Some people believe that if Donald Trump wins the next U.S. election (in November 2024), the value of Bitcoin could go up to as much as $80,000 or even $90,000! This is because Trump has been positive about the cryptocurrency market before. He has said that he wants the United States to be a leader in the crypto industry. Trump’s love for crypto coins can encourage people to buy more of it, causing an increase in its price. If he wins, many think Bitcoin will reach its highest value ever.
Trump has also criticized how the current administration handles cryptocurrencies. He thinks that the government is holding back the growth of Bitcoin by putting too many rules in place. If Trump wins and removes some of these rules, it could make it easier for Bitcoin to grow in value.
What About a Harris Win?
On the other hand, if Kamala Harris wins, experts believe that the value of Bitcoin could drop. Harris is part of the current administration, which has been very careful with the crypto market. If she wins, it could mean more regulations, or rules, which can affect the growth of Bitcoin in the US. We dug deep and found some industry experts who stated that if Harris wins, the value of Bitcoin could fall to around $30,000 to $40,000. This will be a big drop from its current market price of just over $50,000. A win from Harris could mean more government control, which might make people less excited about Bitcoin, and they could sell it, causing the price to go down.
Trump’s Promise to Make the U.S. the Bitcoin Capital
Donald Trump is always one to make his campaign trail look very impressive. Recently, he made some bold promises about Bitcoin. He has said that if he wins the election, he will make the United States the Bitcoin capital of the world. That means he would want the U.S. to lead in Bitcoin trading as well as all other crypto innovation in the market. He believes that the current government has been trying to stop Bitcoin’s growth by making it harder for companies and people to use it freely. Trump’s support of Bitcoin could bring in more investors and help the cryptocurrency grow even more. By encouraging Bitcoin’s development, Trump believes he can help the U.S. economy and make the country a thriving economy for Bitcoin trading.
