Trump’s 2024 Run: Potential Impact on Bitcoin and Crypto Market

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Donald Trump is once again in the spotlight as the 2024 election season gains momentum, raising questions about how his potential presidency could impact Bitcoin and other cryptocurrencies.

Many Bitcoin supporters view Trump favorably due to his past statements and actions that appeared to encourage the growth of digital currencies.

This optimism among his supporters has generated significant buzz about what a Trump administration might mean for the future of Bitcoin and the broader crypto landscape.

Michael Saylor, a strong supporter of Bitcoin and the executive chairman of Microstrategy, wanted to hear people’s opinions on the topic.

He conducted a poll on X, asking his followers whether they think Trump or Kamala Harris would be better for Bitcoin. The results were notable, with over 100,000 votes and thousands of comments and likes.

It shows that 90.9% of voters chose Trump over Harris in the poll. This strong support indicates that many Bitcoin supporters believe Trump could create a better environment for cryptocurrencies.

This strong support for Trump among Bitcoin advocates could boost market confidence and attract more investment, potentially driving up cryptocurrency prices and shaping the future of the crypto market.

Donald Trump’s Support for Cryptocurrency and Its Impact on Bitcoin

Bitcoin is becoming a popular topic as the 2024 election nears, especially with Donald Trump running for president again. Trump has shown support for cryptocurrency and promised to take strong actions to help the industry if he wins.

One of his biggest promises is to fire Gary Gensler, the current chairman of the U.S. Securities and Exchange Commission (SEC), on his first day in office. Many in the Bitcoin community think this could create a friendlier environment for digital assets.

In addition to his promises, Trump has gained attention with his own cryptocurrency projects. He has launched four non-fungible token (NFT) collections that have attracted interest and support.

Recently, a crypto project backed by his family was announced, showing his commitment to digital assets. His actions have excited his supporters, who hope a Trump presidency would bring positive changes for Bitcoin and other cryptocurrencies.

Kamala Harris’s Regulatory Stance on Cryptocurrency and Trump’s Rising Popularity

On the other hand, Kamala Harris has not clearly shared her views on cryptocurrency, but she has supported stronger regulations in the industry.

Many believe that the Biden-Harris administration is not friendly toward crypto, especially due to the SEC’s enforcement actions under Gensler.

This perception has created a divide between those who support Trump’s approach and those who favor Harris’s regulatory stance.

Hence, optimism for Trump’s chances in the upcoming election is growing, with betting markets like Polymarket showing more support for him.

Analysts from Standard Chartered believe that if Trump wins, Bitcoin prices could rise significantly. Some estimates suggest that Bitcoin might reach $73,000 on Election Day.

As the election approaches, the crypto community is watching closely to see how these political changes could impact Bitcoin and the wider digital asset market.

About B. Ali PRO INVESTOR

Live webinar speaker and derivatives (Forex, Crypto, and Indices) analyst with a broad range of skills for evaluating financial data, investment trends, technical analysis, fundamental analysis, and the best ways to strategies investment selection.  Expertise: Trading Psychology; Speculative Positioning & Market Sentiment; Technical & Fundamental Analysis.