With less than a month to go before the US presidential election, the world of cryptocurrencies is in suspense. What will happen to the price of Bitcoin if Kamala Harris becomes the next president? Artificial intelligence has a projection that might surprise you.
What does AI say?🤖
According to a recent analysis, if Kamala Harris wins the election, the price of Bitcoin could fall to a range between $30,000 and $40,000. Why? The perception is that her administration could maintain an unfavorable regulatory environment for cryptocurrencies.
Key Factors 👀
1. Unfavorable Regulatory Environment: Harris has not publicly addressed the topic of cryptocurrencies in her speeches. This creates uncertainty about how digital assets would be regulated under her leadership.
2. Continuation of Restrictive Policies: Analysts believe that a Harris victory could perpetuate the current regulatory framework, perceived as restrictive for innovation in the crypto sector. This could discourage investment and limit market growth.
What if Trump wins? 🚀💪🏻
In contrast, if Donald Trump wins, Bitcoin is projected to reach between $80,000 and $100,000. Trump has expressed his intention to make the United States “the Bitcoin capital of the world,” which could boost the crypto market significantly.
Market Sentiment 📌
Betting on platforms like Polymarket shows that a significant percentage of investors anticipate a Trump victory, which could be influencing current market expectations on the price of Bitcoin.
An Unexpected Impact?
VanEck, an asset manager, suggests that while Harris could keep Gary Gensler as SEC chair and align herself with figures like Senator Elizabeth Warren, her moderate approach to cryptocurrencies could create an unexpected impact. Despite a more restrictive regulatory environment, they argue that this could indirectly benefit Bitcoin by accelerating structural problems that drive its adoption.
If Kamala Harris wins the 2024 presidential election, the price of Bitcoin is projected to fall to a range between $30,000 and $40,000. This projection reflects concerns about a less favorable regulatory environment and Harris’ lack of explicit support for cryptocurrencies. Investors should keep an eye on how political developments unfold in the coming weeks, as any changes could drastically impact the future of Bitcoin.
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