Follow Nicholas on X here
This is your Captain speaking: Due to regulatory uncertainties about who will win the US presidential election on Tuesday, the price of Bitcoin has fallen to $70,000 before further notice – HODL please.
Well, now after the crisis, the price of Bitcoin has reached an all-time high of just above $73,770 earlier this week, just $200 less than where it was around $73,500. As I noted last week, markets were pricing in a Trump victory, which would lead to his positive policies regarding Bitcoin and other financial markets.
Unfortunately, with just 4 days left before the election, there is a feeling in the air that Kamala Harris could still win because she go ahead Trump is likely to win the swing states Wisconsin and Michigan.
This race will be much closer than what the market had anticipated over the past few weeks.
If Trump wins, many are expecting BTC to rise due to his favorable policies that he has promised to implement. Bitcoin Will Be Poised To Grow Remarkably And Even $800 Billion Bank Standard Chartered predicted $125,000 price if Republicans can win the election.
However, if Harris wins, things may be different. Since she has basically no policy on Bitcoin (let alone any good policy) voters can only assume she is going to continue the Democrats’ 4 year long attack on the Bitcoin industry.
It is very surprising that there is no public record, video or even written, of the word Bitcoin being said before. $700 billion wealth manager Bernstein Said Earlier this September it was said that if Harris won, the price of Bitcoin could drop to $30,000.
I think predicting Bitcoin prices at $30k is very exaggerated, and it won’t drop that much if she wins. But I believe there will be a significant delay in reaching new all-time highs until at least next year. Although I would love to be wrong about this.
As we head into this election, regardless of the outcome, I will be keeping my Bitcoin stashed away. Although the price may fluctuate wildly in the short term, it is still the best asset to have in times of uncertainty. And these are times of uncertainty that will largely determine the future of this industry in America.
Having said all that, a new all-time high has been postponed until further notice – please HODL.
This article is a TakeThe opinions expressed are solely those of the author and do not necessarily reflect the opinions of BTC Inc. or Bitcoin Magazine.
