The next US election, whether Trump or Biden is elected, will have a significant impact on the cryptocurrency market:
Trump takes office:
1. Friendly regulatory environment: Trump is "open-minded" about cryptocurrencies and may continue to implement loose regulatory policies.
2. Loose monetary policy: Trump advocates low interest rates and loose monetary policy, which is conducive to safe-haven assets such as Bitcoin.
3. Tendency of weaker US dollar: Trump prefers a weak dollar to promote exports.
4. Geopolitical tensions: Global trade frictions intensify, risk aversion heats up, and Bitcoin may benefit.
In summary, Trump's policy tendencies are conducive to the development of Bitcoin, and loose policies, weak US dollars and political tensions may push up demand for Bitcoin.
Biden takes office:
1. Strengthen supervision: The Biden administration tends to strengthen supervision of cryptocurrencies, and the SEC and the Treasury Department will increase supervision.
2. Tightening tax policies: Biden advocates raising capital gains taxes and taxes on the rich, which may increase the tax burden on cryptocurrency investors.
3. Prudent monetary policy: Biden supports a prudent monetary policy and gradually tightens it, which may put pressure on Bitcoin prices.
4. 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.
Overall, Biden's policy inclinations may put pressure on Bitcoin, and increased regulation, tighter monetary policy and the stability of the dollar may affect Bitcoin's market performance.
