The post Donald Trump or Kamala Harris: How U.S Presidential Election Results Will Impact Bitcoin Price appeared first on Coinpedia Fintech News
Bitcoin’s price could see big changes based on whether Donald Trump or Kamala Harris wins today’s presidential election. Top crypto analyst Miles Deutscher suggests that the election result could either push Bitcoin quickly toward its $100,000 goal or cause a temporary drop, highlighting how the crypto market is closely tied to this political event.
BTC Rise To $100K IF Trump Wins
According to crypto analyst Miles Deutscher, the upcoming U.S. election could have a “short-term impact on crypto sentiment,” especially on Bitcoin’s price. Currently around $68,550, Bitcoin has seen some fluctuations recently, dropping from last week’s seven-month high of over $73,000.
Deutscher suggests that a Trump victory might trigger an “instant pump” in Bitcoin’s price, potentially driving it to a new all-time high (ATH) of around $100,000 by the end of this year.
He believes that Trump’s pro-business policies and possible regulatory relief for crypto could create a more favorable environment for Bitcoin and the broader crypto market. With this, both Bitcoin and altcoins might experience a quicker price surge.
Deutscher remains optimistic that Trump’s approach could provide a stronger foundation for Bitcoin’s growth, allowing it to benefit from an overall increase in demand and interest from investors.
Harris Win: Short-Term Correction
Meanwhile, in recent weeks, both Bitcoin prices and Donald Trump’s election odds on the blockchain-based betting platform Polymarket have dropped sharply, while Kamala Harris’s chances have risen arousing speculation in the crypto industry.
On the other hand, if Kamala Harris wins, Bitcoin could face an “instant drop,” followed by a slower, more gradual recovery. He predicts this scenario could delay Bitcoin’s rise to a new all-time high until the first quarter of 2025.
Deutscher believes a Harris-led administration might introduce more regulatory scrutiny, which could hinder Bitcoin’s growth in the short term.
However, Deutscher remains positive about Bitcoin’s future, stressing that even under a Harris administration, Bitcoin’s path to $100,000 is still likely—though it might take a bit longer to reach this target.