What is the impact of US elections on cryptocurrency markets?
 |
| Effects of US Elections on The Cryptocurrency Market |
A few days before the US elections and the fierce conflict between the candidates, we did not find a project agreed upon by the candidates for the US presidential elections Kamala Harris and former President Donald Trump, except for the cryptocurrency project and its support.
If we look at Trump's steps, we will find that they support digital currencies, as he was a keynote speaker in July 2024, during the Bitcoin conference in Nashville, where he promised to ensure that the federal government would never sell its Bitcoin holdings, and Trump also pledged that the United States of America would be the "cryptocurrency capital" on Earth.
In the same vein, the world is moving forward and governments around the world have introduced regulatory frameworks including Singapore, the European Union, the UAE, and many others, and many Bitcoin investment firms expect that if Harris wins the US presidency, her approach to cryptocurrency regulation will be largely the same as Trump's.
The Trump family recently launched a new cryptocurrency project called World Liberty Financial, and the goals set by the project’s participants indicate that it will resemble a crypto banking platform. As a result, Bitcoin and cryptocurrency-related stocks witnessed declines during trading sessions last week, and these losses come after gains recorded throughout September 2024.