Whether the president of the next U.S. election is Trump or Biden will have a major impact on the currency circle:
Trump takes office:
Friendly regulatory environment: Trump has an "open attitude" towards cryptocurrencies and may continue to relax regulations.
Loose monetary policy: Trump advocates low interest rates and loose monetary policy, which is beneficial to safe-haven assets such as Bitcoin.
A weaker dollar: Trump prefers a weaker dollar to boost exports.
Geopolitical tensions: Global trade frictions intensify, risk aversion increases, and Bitcoin benefits.
Trump's taking office: Good for Bitcoin. Loose policies, a weak U.S. dollar and political tensions have boosted demand for Bitcoin.
Biden takes office:
Strengthen supervision: The Biden administration is inclined to strengthen cryptocurrency supervision, and the SEC and the Treasury Department will increase supervision.
Tightening of tax policies: Biden advocates raising capital gains taxes and taxes on the wealthy to increase the tax burden on cryptocurrency investors.
Stable monetary policy: Biden supports a prudent monetary policy and gradually tightens it, which may put pressure on Bitcoin prices.
The U.S. Dollar is Relatively Stable: The Biden administration’s preference to keep the U.S. dollar stable could undermine Bitcoin’s safe-haven appeal.
Biden takes office: Tighter regulations, tighter monetary policy, and dollar stability could weigh on Bitcoin.
