Trader: Whether Trump or Harris wins, Bitcoin will rise to $80,000
According to reports, some traders have stated that regardless of who becomes the U.S. President, Bitcoin (BTC) may break its previous high in the coming weeks, marking a shift in attitude before the November 5th election.
Traders have long believed that a victory for Republican Donald Trump would be beneficial for the industry as he supports cryptocurrency and has promised to make America a Bitcoin powerhouse. On the other hand, Democrat Kamala Harris has not made similar promises but said she would introduce regulations to protect certain groups. These positions lead many people to believe that a Republican victory is more favorable for Bitcoin. However, some think that due to several macroeconomic factors, Bitcoin is expected to rise anyway.
"To attract voters, both presidential candidates have taken positions supporting cryptocurrencies but it's hard to say whether any of their promises will be fulfilled," said Jeff Mei, Chief Operating Officer at cryptocurrency exchange BTSE. "However, it's clear that markets are reacting positively towards upcoming policy changes - whether it's Harris or Trump; traders and investors believe any form of change will be good." "This coincides perfectly with the Federal Reserve's first interest rate cut in four years and recent stock price increases which further support arguments that Bitcoin could break historical highs and reach $80,000," added Mei.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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