This is your captain speaking: Due to regulatory uncertainty over who will win the US presidential election on Tuesday, the price of Bitcoin has dropped back to $70,000 under further notice – HODL please.
Well, after weathering the crisis, Bitcoin’s price nearly reached an all-time high of over $73,770 earlier this week, down just $200 from $73,500. As I noted last week, markets were pricing in a Trump win, which would put his positive policies around Bitcoin and other financial markets into effect.
Unfortunately, just 4 days after the election, there is a feeling that Kamala Harris may still win because… excels Trump’s chances of winning the swing states of Wisconsin and Michigan.
This race will be much closer than markets have been anticipating in the past few weeks.
If Trump wins, many expect Bitcoin to rise due to the favorable policies he has promised to implement. Bitcoin will be poised to grow exponentially and even Standard Chartered will be worth $800 billion anticipation Prices are $125,000 if Republicans sweep the election.
But if Harris wins on the other hand, things may be different. Given the lack of any Bitcoin policies (let alone any good ones), voters can only assume that it will continue the Democrats’ 4-year-long assault on the Bitcoin industry.
It’s so amazing that there’s not even a public, video or written record of her ever saying the word Bitcoin before. $700 Billion Wealth Manager Bernstein He said Earlier in September this year, if Harris wins, the price of Bitcoin could fall to $30,000.
I think the $30,000 Bitcoin price guess is highly exaggerated, and that it won’t go down much if it wins. But I think it will severely delay reaching a new all-time high until at least next year. I’d love to be wrong about that though.
As we head into this election, regardless of the outcome, I will be holding onto my Bitcoin. While the price may fluctuate up or down significantly in the short term, it is still the best asset to own in times of uncertainty. This is a time of uncertainty that will greatly determine the future of this industry in the United States.
With all that said, the new all-time high has been postponed until further notice – HODL please.
This article is a takes. The opinions expressed are entirely those of the author and do not necessarily reflect the opinions of BTC Inc or Bitcoin Magazine.
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