Your captain speaks: Due to regulatory uncertainties over who will win the US presidential election on Tuesday, the price of bitcoin has fallen back to $70,000 under new notice; please HODL.
Well, now that the embarrassment is over, the price of bitcoin nearly hit an all-time high of over $73,770 earlier this week, leaving it just $200 lower around $73,500. As I noted last week, markets had been pricing in a Trump victory, which would see his positive policies around bitcoin and other financial markets implemented.
Unfortunately, with just 4 days left until the election, there is a feeling in the air that Kamala Harris may still win, as x.com/tier10k/status/1852403349124948249″>advance Trump has a chance of winning the swing states of Wisconsin and Michigan.
This race will be much closer than the markets have predicted in recent weeks.
If Trump wins, many expect btc to rise due to the favorable policies he promised to implement. bitcoin would be prepared to grow significantly and even reach Standard Chartered bank's $800 billion x.com/BitcoinMagazine/status/1849844777207927266″>provided It costs $125,000 if the Republicans manage to sweep the elections.
However, if Harris wins, things could be different. Because she has basically no bitcoin policies (let alone any good ones), voters can only assume she will continue the Democrats' 4-year attack on the bitcoin industry.
It's pretty surprising that there isn't even a public record, video or written, of her saying the word bitcoin before. Bernstein, $700 billion wealth manager bitcoin-price-trump-harris”>saying In early September, if Harris wins, the price of bitcoin could fall as low as $30,000.
I think assuming that $30,000 bitcoin prices are pretty hyperbolic and won't go down that much if she wins. But I do think it would seriously delay reaching a new all-time high until at least next year. I'd love to be wrong about that, though.
As we get closer to this election, regardless of the outcome, I will be HODLing my bitcoin. While the price can fluctuate greatly up or down in the short term, it is still the best asset to own during times of uncertainty. And this is a time of uncertainty that will largely dictate the future of this industry in the United States.
All that being said, a new all-time high has been postponed until further notice; please HODL.
This article is a Carry. The opinions expressed are entirely those of the author and do not necessarily reflect those of btc Inc or bitcoin Magazine.
