The results of the US election on November 4th are coming soon, let's discuss the impact of two possible outcomes on the cryptocurrency market.
Outcome One: Trump elected. #BabyMarvin will see a surge
1. The Republican Party's new platform will become more significant: ending the US government's crackdown on cryptocurrencies, defending the rights of Bitcoin and cryptocurrency mining, self-custody, and trading freedoms.
2. Trump will appoint a new SEC chairman, with three candidates who are all favorable to the crypto space: Dan Gallagher (Chief Legal Officer of Robinhood, which fully embraces crypto), Chris Giancarlo (former CFTC chairman, nicknamed the 'Father of Crypto'), and Hester Peirce (currently one of the five SEC commissioners, nicknamed 'Crypto Mom').
3. The DOGE department will be officially established, cutting budgets will often make headlines, bringing Dogecoin's visibility to another level.
4. Trump-themed coins will see short-term benefits maxed out.
Outcome Two: Harris elected.
1. The steps towards regulatory openness for the crypto space will not be as significant. Gary Gensler may transition to Treasury Secretary, and among the new SEC chairman candidates, only Chris Brummer is crypto-friendly, but being a law professor, he may act similarly to Gary once in office.
2. Trump may go to prison, Musk may be targeted, and companies in the crypto space that support Trump may face scrutiny, especially those that have aligned with those who understand the law to avoid SEC issues, such as Kraken and Gemini. The aforementioned related concept coins may face a deep pit.
3. Harris's climate policy is negative for high-energy-consuming POW mining.
4. Overall, it should present another bottom-buying opportunity similar to 1994. After all, the Democratic Party and Harris's major benefactor, BlackRock, still want to expand Bitcoin ETFs and tokenization.
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