Will Trump or Biden have a significant impact on the cryptocurrency industry?
Trump takes office:
Regulatory environment is friendly: Trump is "open" to cryptocurrencies and may continue to relax regulation.
Loose monetary policy: Trump advocates low interest rates and loose monetary policy, which is conducive to safe-haven assets such as Bitcoin.
The tendency of a weaker dollar: Trump prefers a weak dollar to promote exports.
Geopolitical tensions: Global trade frictions intensify, risk aversion heats up, and Bitcoin benefits.
Trump takes office: Good for Bitcoin, loose policies, weak dollars and political tensions push up demand for Bitcoin.
Biden takes office:
Strengthen regulation: The Biden administration tends to strengthen cryptocurrency regulation, and the SEC and the Treasury Department will increase supervision.
Tightening tax policy: Biden advocates raising capital gains tax and rich taxes, increasing the tax burden on cryptocurrency investors.
Prudent monetary policy: Biden supports a prudent monetary policy, which is gradually tightened, which may put pressure on Bitcoin prices.
The dollar is relatively stable: The Biden administration tends to maintain the stability of the dollar, which may weaken the safe-haven appeal of Bitcoin.
Biden takes office: Strengthened regulation, tighter monetary policy and stable dollar may put pressure on Bitcoin.