The Telling Impact Of A Harris Or Trump Winon Crypto Market

In both scenarios, broader economic policies like inflation control, monetary policy, and international trade will be critical in shaping Bitcoin’s price

A recent survey in the US revealed that 26 million voters in the country are part of a ‘crypto voting bloc’, with 16 per cent prioritisins pro-crypto policies when choosing candidates.

Talking to Bizz Buzz, Shivam Thakral, CEO of BuyUcoin, India’s second-longest-running digital asset exchange, says, “This highlights a significant political momentum for crypto advocacy.”

As institutions continue to grow and investors' advocacy for regulation grows, the future of the crypto industry seems bright. As the 2024 election approaches, this bloc could significantly impact key races, emphasizing the growing importance of cryptocurrency in politics.

Ryan Lee, chief analyst at Bitget Research, says, “The election can have a major impact on Bitcoin (BTC) and the wider cryptocurrency market.Key factors like regulatory policies, economic strategies, and investor sentiment play a crucial role in shaping market dynamics. From a crypto and BTC perspective, it’s essential to understand the candidates’ stances on regulation, taxation, inflation, the economy, innovation, blockchain, and the approach to CBDCs and stablecoins.”

If Kamala Harris wins, there could be more regulation but also increased innovation in blockchain technology and digital currencies. This may create a more structured, compliant, and mainstream environment for crypto-currencies, though it might also lead to short-term market volatility due to regulatory concerns, he said.

Lee added that on the other hand, if Donald Trump wins, it could result in less regulatory pressure but more market volatility tied to economic and foreign policy. Trump has shown support for Bitcoin, and if his chances of winning are high before the election, a "Trump trade" effect could emerge, driving institutional investors to profit through Bitcoin trading.

In both scenarios, broader economic policies like inflation control, monetary policy, and international trade will be critical in shaping Bitcoin’s price and the overall direction of the cryptocurrency market.