The Impact of US Presidential Elections 2024 on Bitcoin Prices and Regulations

Bitcoin Prices Trend Amid US Elections 2024

As the US Presidential Elections 2024 approach, Bitcoin prices have recently surpassed a three-month high near $70,000. This spike comes amid a flurry of inflows into exchange-traded funds (ETFs) for Bitcoin, indicating growing investor confidence. The enthusiasm surrounding potential lighter regulations after the election, along with nearly $2.4 billion net inflows into US spot-Bitcoin ETFs ahead of October 18, further contribute to this price boost.

Candidates' Stance on Cryptocurrency

• Donald Trump advocates for cryptocurrencies, labeling Bitcoin as a 'Trump trade.'
• Kamala Harris proposes developing a friendly regulatory environment, a shift from previous stricter regulations under the Biden administration.

These differing policies are key to understanding future Bitcoin price fluctuations.

Bitcoin’s Future and Price Predictions

Experts anticipate further price movements depending on election outcomes. Edul Patel of Mudrex highlights Trump's vision of designating Bitcoin as a strategic reserve, heeding market reactions. In contrast, a Harris win might bring clarity through structured oversight, potentially stabilizing prices in the long term.

With historical trends showing October as a robust month for Bitcoin, analyst Vikram Subburaj suggests that Bitcoin could reach its all-time high soon. Investors remain optimistic, believing Bitcoin could touch $100,000 in the near future.