BENGALURU: The US elections always influence financial markets and the crypto sector is not an exception as experts anticipate a favourable regulatory environment, especially for virtual digital assets (VDS).
“Unlike past elections, both major parties are advocating for clearer, supportive regulations. With a large chunk of the population engaged, establishing regulatory certainty is crucial.
Given the US’s significant economic influence, its regulatory decisions may shape global crypto policies, potentially fuelling Bitcoin’s momentum during this election cycle,” said Edul Patel, co-founder & CEO of Mudrex.
Building on this momentum, Bitcoin is well-positioned to touch $100,000 mark in near term, regardless of the polls outcome, he added. Over 40% of Americans hold crypto in some or the other form. Experts are of the view that the uncertainty surrounding the election outcome might trigger market fluctuations.
“If Trump’s pro-crypto rhetoric continues to resonate with voters, it could spark bullish sentiment, with investors anticipating a favourable regulatory environment for digital assets. On the other hand, a Harris administration that leans toward increased regulation could trigger bearish trends as the market adjusts to the possibility of stricter oversight,”
Balaji Srihari, business head, CoinSwitch, said. As we get closer to results, crypto market will likely see rising volatility as investors react to polling data, campaign developments, and debates.
Bearish trends seen if Harris comes to power
Harris administration that leans toward increased regulation could trigger bearish trends as the market adjusts to possibility of stricter oversight. As we get closer to results, crypto market will likely see rising volatility as investors react to polling data, campaign developments, and debates