Bitcoin will still surpass $100,000 regardless of the outcome of the US elections — Swan Bitcoin 

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Sep 13, 2024 - 05:43
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Bitcoin will still surpass $100,000 regardless of the outcome of the US elections — Swan Bitcoin 

The United States Presidential elections slated for September Next month took an exciting turn when the two leading candidates clashed in a presidential debate recently.

The recent presidential debate has intensified the discussions around the US presidential elections and how the outcome would affect various industries.

During the Presidential debate, Crypto was not mentioned as a hot topic but despite that, some crypto enthusiasts and investors believe that the outcome of the United States elections cannot slow down the surge of crypto.

Steven Lubka, head of private clients and family offices at Swan Bitcoin believes Bitcoin is still set to hit six figures regardless of who wins the US presidential elections.

In an interview with CNBC, Steven Lubka asserted that he believes Bitcoin will surpass the $100,000 mark by 2025.

James Davies, co-founder of Crypto Valley Exchange stated that the belief that a Kamala Harris presidency will drive down the price of Bitcoin is largely overstated.

This belief stems from the subtle anti-crypto policies put in place by the Joe Biden administration which Kamala Harris is a huge part of.

Davies added that Crypto is a global commodity and mostly driven by Macroeconomic whims and not Politics. He suggested that the crypto industry should play safe by lobbying both sides of the political divide and preparing to win regardless of who wins the elections.

The assertion by both Crypto figures negates the fact that Crypto was treated as a hot-button issue during the campaign with the flagbearer of the Republican party Donald Trump going all out on his way to appeal to the crypto community in the country.

Donald Trump attended the Bitcoin 2024 conference held in Nashville where he promised to get America to lead the global crypto charge. Kamala Harris’s team on their part organized a town hall meeting spearheaded by some Bitcoin enthusiasts and investors which was dismissed by the crypto community as underwhelming.

Despite the claims by the crypto figures, the activities of the US presidential election continue to subtly affect the price of Crypto assets.

The September 10 debate triggered bearish sentiment in the crypto market with the total market crypto market capitalization dropping by 2%.

Donald Trump has earned himself the title of the crypto candidate due to his pandering and open endorsement of the industry in his campaign trails.

What to Know  

  • Both presidential candidates are currently tied at 49% odds to win the election on Polymarket. This wasn’t the case before as Donald Trump held a healthy margin in the race when Joe Biden was still the frontrunner of the democratic party.
  • Donald Trump during the Bitcoin 2024 conference threatened to fire Gary Gensler, US Securities, and Exchange Commission Chief for his unclear stance on cryptocurrency.

https://nairametrics.com/2024/09/12/bitcoin-will-still-surpass-100000-regardless-of-the-outcome-of-the-us-elections-swan-bitcoin/