The US presidential election is a significant event with far-reaching consequences, not just for the United States but for the global economy as well. As the 2024 election approaches, with Donald Trump potentially facing off against Vice President Kamala Harris, the effects on various economic sectors, including the cryptocurrency market, are increasingly scrutinized.
The cryptocurrency market is particularly sensitive to geopolitical events, and the US elections are no exception. Bitcoin, along with other cryptocurrencies, tends to experience increased volatility during election cycles due to its decentralized nature and its growing role as a hedge against traditional financial systems. Investors closely watch the stances of leading candidates on regulations concerning cryptocurrencies, with the possibility of more stringent regulations under a new administration often leading to short-term market corrections.
For instance, the 2020 election saw Bitcoin prices fluctuate as candidates’ positions on digital assets became a focal point for investors. A similar trend is expected in 2024. If Donald Trump, known for his critical stance on Bitcoin during his first term, re-emerges as a strong contender, there could be renewed concerns about potential regulatory crackdowns. On the other hand, Kamala Harris, though not particularly vocal about cryptocurrency, represents continuity with the current administration, which has taken a more cautious approach to regulation.
As the race intensifies, market analysts predict that a Trump vs. Harris contest will bring heightened volatility to the financial markets, including cryptocurrencies. A Trump victory could spark fears of increased regulation, potentially dampening market enthusiasm. Conversely, a Harris win might maintain the status quo, with gradual progress in crypto regulation, providing a more stable environment for growth.
In conclusion, while the exact outcomes remain uncertain, the US elections will undeniably influence the global economy and the cryptocurrency market. Investors are advised to stay informed and prepared for potential shifts as the election date approaches.
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REPLAY: TEEKA TIWARI – ‘The Final 5 Coins’ To Million | Bitcoin Price Pumps 20%, Bull Trap?
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“FIVE Tiny Cryptocurrencies That Could Turn $500 Into $5 Million… Thanks To A Crypto Market Phenomenon Guaranteed To Hit In Roughly 50 Days”
BITCOIN PRICE PUMPS 20%, ARE BULLS RUNNING INTO A TRAP?
With the BTC price registering gains of over 20% in the last 24 hours, many holders are getting excited.
But, it seems that the jury is still out on just how positive this latest pump is.
Could the bulls be running into a trap?
Bitcoin analysts can’t agree on whether this latest pump will keep seeing BTC price soar.
Some seasoned traders are celebrating Bitcoin’s decoupling from the stock market while others are calling for caution.
Indeed, throughout its 11-year trajectory, bitcoin price has widely been regarded as uncorrelated with the stock market.
We’re all well-versed in the safe haven narrative and comparing bitcoin to gold.
As stock markets plunge, Bitcoin has often held its own or even swung to the upside.
However, just days ago, that narrative appeared to have been called sharply into check.
The cryptocurrency market experienced a major sell-off alongside the S&P 500.
While there is a generally positive vibe in the air (at last), some traders are calling for caution.
After all, we’ve been burned before. This could be another liquidity grab before the next major downswing.
That said, many seem to be in agreement that the key support level bitcoin price needed to flip was $6400.
Both Josh Rager and CryptoBirb cited the $6,400 level as crucial.
CryptoBirb even went as far as to predict that bitcoin price could bounce all the way back to $7,600 as there is “little resistance between 6.4k and 7.6k.”
Rager also points out though, that even breaking $6.4k, stocks selling off is not bullish for BTC. Coinbase also warns that if the S&P 500 correlation sustains again in the future, “Bitcoin will enter uncharted territory.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
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I can not express how bullish I am on bitcoin. We are at risk of losing the entire system right now. I know they will find a way to save it but all trust is lost.
Gold guys/girls – you’ll be fine too. It’s just that $BTC has bigger upside, by far but is riskier than gold
— Raoul Pal (@RaoulGMI) March 19, 2020
$btc tapping ex-range lows flipped to resistance. Positive for bulls is that there is little resistance between 6.4k and 7.6k
Intraday consolidation breakout retest towards 5.4-5.6k would be the most healthy to confirm price action is slowly recovering after Friday 13th PTSD lol pic.twitter.com/6u1fUZjpU6— Crypto₿irb (@crypto_birb) March 20, 2020
$BTC rejected off the point of control (highest traded volume price) – a level that we saw act as support twice before the breakdownFor me to start to feel bullish, price needs to flip at least $6400 on high time frames
Even then, stocks selling off is not bullish for BTC pic.twitter.com/CjrlzqZtRe
— Josh Rager 📈 (@Josh_Rager) March 20, 2020
https://cointelegraph.com/news/raoul-pal-super-bullish-on-bitcoin-price-after-miraculous-80-rebound
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TOP NEW YORK EXECUTIVE SEES BITCOIN AT $150K BY END OF THIS YEAR!! SUPER BULLISH BTC PREDICTIONS!!
💰 BlockFi: Up To $250 Bitcoin Bonus: https://blockfi.com/cryptonewsalerts
There is nothing stopping Bitcoin from attempting to become a six-figure asset, the Magnetic managing director William E. Quigley professed in an interview with CNN Business.
The New York-based senior executive listed a string of reasons behind his bullishness on Bitcoin, the world’s leading decentralized cryptocurrency whose rates surged from as low as $3,858 just shy of $58,500 in the previous 12 months.
They included Bitcoin’s scarcity and growing demand among mainstream corporate houses that look for alternative store-of-value assets for their balance sheets.
A pre-embedded algorithm within the Bitcoin blockchain’s source code reduces its supply rate by half every four years or after every 210,000 block—an event known as “halving.” Meanwhile, there can only be 21 million BTC tokens in existence, making the cryptocurrency scarce, making it more valuable in the long-term if the demand for it rises.
Bitcoin has had three halvings in the past. The November 2012 and June 2016 supply cuts saw the BTC/USD rates jumping from about $12 to nearly $1,150 and $650 to almost $20,000.
Meanwhile, the third halving—that took place in May 2020—has followed up with up to 558 percent rise so far. It prompted Mr. Quigley to see a bullish fractal.
“We are about halfway through the post-halving bull run,” the executive noted. “So, by my judgment, we have a lot more to go with Bitcoin. Certainly a hundred thousand and quite possible a $150,000 by the end of this year to maybe Q1 next year.”
BITCOIN DEMAND GROWS
That explains why even corporates have started embracing the flagship cryptocurrency as an alternative to cash. Tesla, the world’s leading electric carmaker, revealed in February that it added $1.5 billion worth of bitcoin in its balance sheet, noting that it would also start accepting the cryptocurrency for its services and products.
MasterCard, a credit card giant, announced that it would integrate crypto tools into its services in the same month. Bank of New York Mellon, the US’s first banking firm, joined the ranks by announcing that it would offer bitcoin custodianship via the same platform that its clients use for traditional securities and cash.
“The latest survey I saw showed that 5 percent of the public-traded companies in the US would consider adding Bitcoin to their balance sheets,” said Mr. Quigley. “And the reason they are thinking that is that corporates have trillions of dollars in cash—and where do they put it? There are government bonds but $17 trillion of them yield negative returns.”
In other trending Bitcoin News today:
Experts Divided on BTC Predictions: Bullish or Super Bullish?
Despite the current battle between Bitcoin bulls and bears around the $50,000 price mark — and an 8.7% pullback over the past 24 hours — a raft of analysts and commentators have got out their crystal balls to tip a glittering future for Bitcoin prices.
On Mar. 4, Senior Commodity Strategist for Bloomberg Intelligence Mike McGlone pointed to historical data to suggest that Bitcoin is on the way to $100,000.
“Grayscale Bitcoin Trust Discount May Signal March to $100,000 – Bitcoin’s end of February price disparities on U.S. regulated exchanges portend a firming price foundation, if history is a guide, and are evidence of just how nascent the crypto is.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Today is the two year anniversary of my #Bitcoin Halving Reward Era Price analysis chart.It is by far the most accurate, long-term chart prediction I’ve ever seen for Bitcoin.
I still trust it.$BTC will hit $200K+ this cycle. pic.twitter.com/jwUcOpHeXC
— K A L E O (@CryptoKaleo) February 13, 2021
Bitcoin is more likely to hit $1,000,000 than $0.
— Dan Held (@danheld) March 4, 2021
https://bitcoinist.com/top-new-york-executive-sees-bitcoin-price-at-150000-by-q1-2022/
https://cointelegraph.com/news/experts-divided-on-btc-predictions-bullish-or-super-bullish
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Bitcoin (BTC) Will Hit 0,000 by End of December 2021 Predicts Anthony Pompliano | 1,288% Bull Run
➡️ TEEKA TIWARI – The Investment of the Decade: http://2020.cryptonewsalerts.net
“So end of 2021, I think Bitcoin (BTC) will hit $100,000 in US dollar value.” – Anthony Pompliano
Despite the gloomy economy, Morgan Creek Digital co-founder Anthony Pompliano says he’s not backing down from his bullish outlook on the BTC price.
In a new interview on Tech with Catalina, the crypto investment firm executive says he predicts the Bitcoin price is on the verge of a new long-term 1,288% bull run that will bring BTC from its current price of about $7,200 to $100,000.
Pompliano says the macro-economic backdrop along with the much-anticipated halving event in May, which will reduce Bitcoin’s new supply by half, will likely fuel a major rally.
He believes that massive money printing by central banks around the world will drive people to invest in assets that remain scarce and offer inherent anti-inflationary properties.
“So end of 2021, I think Bitcoin will hit $100,000 in US dollar value. And really, the reason for that is a combination of the macro-environment with the halving structure…
You then have massive quantitative easing. [In] the United States, we’ve announced two trillion dollars in stimulus. Japan just approved an almost one trillion dollar stimulus plan.
They’re devaluing their currencies and when that occurs, people are going to seek out inflation hedge assets like gold, Bitcoin, real estate, et cetera. And so, right when everyone is running to gold, Bitcoin, real estate and others, Bitcoin’s going to have this supply shock. Fifty percent of the incoming daily supply will disappear…
I think you’ll continue to see kind of the same level of demand, or more likely you’re going to see an increase in demand over time. If you get that increase in demand but you get a decrease in incoming supply, supply-demand economics take over and you get an increase in price.”
Pompliano says he expects Bitcoin’s rise to begin slowly, with BTC taking more than a year to register a new all-time high.
“Within the first 18 months of the halving, give or take, we will see a very material increase in price. My guess is that we’ll see $100,000 by the end of December 2021 at a minimum.”
In other breaking Bitcoin News today…
This Technical Sign Sent Bitcoin 250% Higher In 2019.
It’s About to Appear Again On April 19th, Josh Olszewicz shared a chart, indicating that Bitcoin is about to cross above the Ichimoku Cloud for the first time in five weeks.
This, he claimed, is a “once-a-quarter” buying signal, which is likely to see BTC rally even higher towards $8,000, $9,000, and beyond.
The importance of the Cloud should not go understated.
Previous moves on the daily above red Clouds also led to staggering bullish follow-throughs.
In 2019, the move above the Cloud marked the start of a 250% rally from $4,000 to $14,000, and just this year, the move above the Cloud was followed by a 20% rally higher.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
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