How the U. S. Election Could Shake Up Bitcoin's Price

Bitcoin's price is hovering around $72, 000, just days before the U. S. elections. This event could impact the cryptocurrency market, regardless of who wins. Eric Beiley, a managing director, thinks Bitcoin's recent surge might signal a Trump victory. But the outcome is still uncertain. Many people are guessing how Bitcoin will react if either Donald Trump or Kamala Harris wins. Some believe a Trump win could boost Bitcoin's price, as he's shown support for cryptocurrencies. Trump even accepts campaign donations in Bitcoin and other cryptos. He's also promised to replace the SEC Chair and create a national Bitcoin reserve.If Trump wins, wealth managers might start seeing Bitcoin as a legit investment. This could attract more money into Bitcoin funds, driving up its price. But it's hard to predict Bitcoin's long-term future under a Trump presidency. On the other hand, Kamala Harris has recently talked more openly about cryptocurrencies. She wants stronger regulations to protect consumers. If she wins, some expect Bitcoin's price to dip first, then bounce back. A Harris win might mean more rules for the crypto market and increased spending. If the election is close or contested, Bitcoin could see more trading. This is because Bitcoin's price can change a lot, both up and down. During uncertain times, like the pandemic, Bitcoin's price dropped but then rose again. If the election is uncertain, options trading on Bitcoin could be very profitable.