Bitcoin can still hit $100K, no matter who wins US election

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Opinion by Georgii Verbitskii, crypto investor and founder of TYMIO Yield and TYMIO Protect.

Opinion by Georgii Verbitskii, founder of TYMIO Yield and TYMIO Protect.

2024’s U.S. Presidential Election has sparked discussions on how each candidate may influence the direction of digital currencies, specifically Bitcoin (BTC), in the years to come.

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As more Americans become owners of Bitcoin and other cryptocurrencies, it’s increasingly likely that whoever wins the election will prioritize crypto regulation as a significant concern.

As a researcher examining the future trajectory of Bitcoin, I find it intriguing to ponder upon its potential surge towards $100,000, irrespective of who takes the helm as commander-in-chief – be it former President Donald Trump or Vice President Kamala Harris. This upward trend appears to be propelled by fundamental factors that extend beyond the political terrain.

Trump vs. Harris: Election results and market sentiment

If Trump wins the presidency, it’s anticipated that there could be an increase in Bitcoin’s value. His daring proposals, such as considering Bitcoin for inclusion in the U.S. reserves and attempting to support the World Liberty Financial token (despite its collapse), have sparked a positive mood among cryptocurrency supporters.

The Trump government is expected to emphasize removing hurdles in cryptocurrency developments, making the U.S. a leading destination for digital finance. This positive stance towards cryptocurrencies mirrors Trump’s economic strategy, which aims to minimize government intervention in financial markets and foster innovation.

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Conversely, a victory for Harris might elicit a more muted reaction from the market. Unlike some other candidates, she doesn’t make explicit promises about cryptocurrency but focuses instead on consumer protection and preventing financial crimes. Her administration would likely continue to advocate for a balance, ensuring users are protected from risks without stifling innovation.

Supporters, particularly progressives, advocate for clear guidelines in the cryptocurrency market. These rules would increase transparency, foster financial accessibility, decrease chances of deceitful practices like fraud and manipulation.

Yet, people would still wish to see crypto employed in ways that could empower underserved communities, but with caution due to overspeculation.

As a crypto investor, it’s evident to me that the future is leaning towards a more extensive and advantageous regulatory landscape in 2025. The trajectory is unmistakably moving towards transparent and supportive regulations, which I firmly believe will be instrumental in shaping Bitcoin’s destiny.

Bitcoin’s role as a hedge amid the unstable market

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One key influence potentially pushing Bitcoin prices higher isn’t the upcoming election itself, but rather the ongoing instability within the global economic structure.

Due to the escalating national debt, now standing at over $105,000 per American citizen, and the swelling federal budget, there’s an unstable context that poses challenges for conventional investment options.

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Bitcoin, being a decentralized, scarce resource, is often seen as a safe haven amidst uncertainties. As investors aim to shield themselves from inflation concerns and potential economic turmoil, they find solace in the form of Bitcoin.

Regulatory clarity boosts growth

A key factor fueling Bitcoin’s expansion is the emergence of clear regulations, particularly within the realm of decentralized finance.

Although Bitcoin has managed to avoid legal action from the Securities and Exchange Commission, who views it as a commodity like gold or oil, the broader regulatory landscape for Decentralized Finance (DeFi) and cryptocurrencies in general still lacks clarity.

As a crypto investor, I’m excited about the prospect of the government working towards more transparent guidelines for our industry. This movement towards clarity in regulations might just be the spark that ignites a Decentralized Finance (DeFi) revolution, opening up new opportunities for all of us.

Achieving transparency could boost investor trust significantly, stimulate fresh waves of innovation and acceptance within the cryptocurrency market, potentially driving up the value of Bitcoin (BTC).

Decentralization and ETFs

Questions about the potential centralization of Bitcoin ownership have arisen since prominent companies such as BlackRock and MicroStrategy have amassed significant amounts of Bitcoin.

Nevertheless, Bitcoin maintains its decentralized nature primarily due to the efforts of miners and the developer community who contribute significantly to its operations.

Because Bitcoin’s structure is distributed rather than centralized, it means that no single entity has power over its network. This is one factor that contributes to Bitcoin maintaining its standing as the leading digital currency.

Even though sudden selling by significant Bitcoin owners may cause price fluctuations, such incidents are fleeting and do not have the power to alter Bitcoin’s long-term course towards dominance.

Additionally, the endorsement of Bitcoin ETFs signified a significant milestone in financial history, effectively connecting conventional finance with the digital currency sector.

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After the introduction of Spot Bitcoin Exchange-Traded Funds (ETFs), the price of Bitcoin has generally remained steady, often exceeding $58,000 – a notable development considering its historically high volatility.

Introducing Bitcoin-linked financial instruments like ETFs draws larger institutional investors into the cryptocurrency market.

Regardless of who assumes the presidency in the U.S., Bitcoin’s fundamental worth allows it to prosper in all circumstances – be they favorable or unfavorable.

Regardless of regulatory shifts or economic turbulence, Bitcoin may thrive due to the unrest experienced by other markets. With potential regulation in its favor and Bitcoin’s role as a safe haven against financial instability emerging, it is increasingly probable that its value will escalate and potentially reach $100,000.

Biography of Georgii Verbitskii: Georgii Verbitskii is the creator behind two innovative crypto investor applications, namely TYMIO Yield and TYMIO Protect. The former is a decentralized finance (DeFi) structured protocol that incorporates the idea of limit orders with yield, while the latter serves to mitigate risks. These applications strive to streamline the management of cryptocurrency assets and make them more approachable for non-specialists.

This piece is meant to provide a broad understanding of the topic and shouldn’t be construed as legal or financial guidance. The perspectives, ideas, and opinions shared in this article belong solely to the author and may not mirror or align with those held by CryptoMoon.

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2024-11-01 18:49