Correcting a Misconception
"Whether the Democratic Party or the Republican Party is in power, the crypto market will have a bull market."
This viewpoint only indicates a lack of understanding of the real situation in the U.S. crypto industry.
Only when Trump is president and the Republican Party controls both the House and the Senate;
will there be a bull market in the crypto space. We should be grateful that this year Trump led the Republican Party to secure the presidency and both houses, otherwise, the bull market would really be stalled.
A bull market is driven by money; there needs to be an influx of outside capital.
The entry point for funds is the banks, and anyone living in the U.S. knows that banks are currently keeping their distance from crypto, whether you are an individual or a business; if you have a few transactions with Coinbase, they will close your account. Even Coinbase itself has had its accounts closed by banks; this is the current state of the industry.
On the surface, the U.S. does not appear to be as rigid as the mainland, but the practices of the banks have already barred many newcomers from entering. Although there is no outright ban, there is also no encouragement, let alone support.
Banks follow the Federal Reserve, which is overseen by Congress; personnel appointments are decided by the president and the Senate.
If the president and Congress do not approve, the Federal Reserve will not relent, and banks will not dare to engage with you; it’s just this simple logic.
Common sense!
