The editors of BeInCrypto find out how the next presidential race in the United States will affect the crypto market. Experts help us understand the topic.
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Continue crypto adoption
Financier and asset manager Alexander Ryabinin says that the upcoming elections are fueling the race for cryptocurrency adoption. He highlighted the change in Joe Biden’s position: from the original denial of cryptocurrenciesto them ‘s support.
Our interlocutor believes that Trump’s victory in 2024 will increase US loyalty to cryptocurrencies, which could cause a bullrun.
“If Trump wins in 2024, it will show full loyalty to the “main state” of cryptocurrencies, which will likely trigger a bullrun,” Alexander Ryabinin concluded.
EMCD Communications and PR Director Mike Lvov also believes that Trump’s victory will be favorable for the cryptocurrency market. Our interlocutor noted that the politician supports cryptocurrencies and does not see them as a threat to the global economy. His victory could lead to a reduction in regulatory pressure on the crypto industry and the launch of new ETFs.
“If an American billionaire and businessman manages to become president for a second term, then we will likely see a warming of the cryptocurrency market on the part of regulators and especially the SEC,” Mike Lvov concludes his forecast .
Anton Toroptsev, Bitget’s head of marketing in the CIS, also joined the optimists. Our interlocutor believes that the election can have a positive impact on the cryptocurrency industry. He drew attention to the fact that the financial policy of the United States has become more relaxed in election years, focusing attention on cryptocurrencies.
Anton Toroptsev also sees prospects for adoption stablecoin law before the election.
“Elections can improve the process of regulating cryptocurrencies. reported by JPMorgan shows that the law about stablecoins will probably be adopted before the presidential elections in the United States,” our interlocutor explained his point of view.
Alexander Peresichan, CEO of TEHNOBIT, joined his colleagues. The expert drew attention to the correlation of the cryptocurrency market with the stock market. He noted that the policy of the US Federal Reserve and the state of the economy are the main factors.
Alexander Peresichan emphasized that the victory of the Republicans, especially Trump, will stimulate the growth of domestic investment and tax reductions, which will have a positive effect on the cryptocurrency market.
“The victory of the Republican candidate will give a strong impetus to the growth of such industries as the extraction of energy resources and our own domestic industrial production,” concluded our interlocutor.
Nothing will change
Maxim Kalmykov, CEO of Bitsgap, believes that the election results will not play an important role in the development of the cryptocurrency market. He noted that although Trump is loyal to cryptocurrencies, there were no significant changes in this area during his previous term. Our interlocutor believes that more serious problems, such as illegal immigration and inflation, will be a priority.
“I do not think that at this time Trump will be involved in the development of the cryptocurrency sector, because there are a number of more serious problems in America,” Maxim Kalmykov explained in his forecast.
Instead of conclusions
The US presidential election in 2024 may have a significant impact on the cryptocurrency market. Trump’s victory, according to experts, may lead to a more loyal regulatory policy and the launch of new products in the cryptocurrency market. However, the development of the cryptocurrency sector will depend not only on US policy, but also on global economic factors and the state of the market in general.
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