đ„đ„đ„ Expert Says #bitcoinâïž âWill Do Betterâ Under #kamalaHarris
As the 2024 U.S. Presidential Election approaches, Bitcoin supporters are increasingly speculating about how the election's outcome might impact the crypto market.
Among the Bitcoin maximalist community, opinions are divided on which candidate would be more favorable for Bitcoin.
One prominent Bitcoin advocate, Rajat Soni, has stirred debate by suggesting that a Kamala Harris victory could have profound effects on Bitcoin. Soni argues that under a Harris administration, the U.S. dollar might rapidly devalue, potentially leading people to turn to Bitcoin as a safer alternative. He believes that as the dollar loses value, Bitcoin's appeal as a store of wealth would increase, possibly leading to significant growth in its value compared to traditional assets like real estate.
In contrast, some community members think Bitcoin might fare better under Donald Trump. One such commenter proposed that Trump's plan to have the U.S. government buy one million Bitcoins for its strategic reserve could greatly enhance Bitcoin's value. Soni, however, expressed skepticism about Trump's commitment to such a plan & warned that it might result in a deliberate devaluation of the dollar.
The uncertainty surrounding the election is reflected in the betting markets on Polymarket, which show a tight race. As of the latest update, Trump has a slight edge with a 50% chance of winning, while Harris is close behind at 49%. This narrow margin underscores the high stakes & potential impact on the cryptocurrency market.
Adding to the speculation, a prominent crypto trader recently predicted that Bitcoin could drop to $16,000 if Harris wins the presidency. This level was last seen during the 2022 market downturn, which followed major events like the collapse of Terra & the bankruptcy of FTX.
These predictions illustrate how macroeconomic factors & government policies could significantly influence Bitcoin, despite its decentralized nature.
Source - thecryptobasic.com
