Topic: Is The election worth the hype for BTC - page 5. (Read 1175 times)

Many thinks that it is hence, it affects the market as a whole.
Let's not forget that the market is heavily driven by the sentiments of the investors that's why we are seeing a huge spike or downfall whenever we see good or bad things happening.

Since both of them already involved themselves into Bitcoin, many believe that they will do something that will benefit Bitcoin and those who are into it as well. Harris accepts crypto donations already, and while Trump is more vocal when it comes to Bitcoin, I still don't think that whoever wins between the two will prioritize something that would benefit Bitcoin. As for me, I've said it in the past and I'll say it again. The presidential election being the catalyst for the upcoming bull run would be the most bizarre thing that will be happening in the crypto space. I still believe that whoever wins in this election, the effect of it towards the crypto will only be short to mid term, but not long term.

If Trump wins, there's a chance that Bitcoin's price might spike up and who will be the one that benefits from it? Those who bought Bitcoin when the price is at $20,000 or even below it.

This is really a bunch of nonsense.  As I've stated on here many times before, I can PROMISE any of you that Trump has NO CLUE what bitcoin really even is.  As a finance guy, one thing I hear constantly around election times is "I'm worried about the stock market, if so and so gets elected it will do this, versus if so and so gets elected, it will do that".  This is one of the most common misnomers and simply has no truth to it.  Elections typically have little effect on things of this nature, price wise.

I wouldn't lose my sleep over this because Bitcoin has already undergone 3 administrations and it's able to attain this height. So, even if an anti-bitcoin government wins, it will not have much impact on the price.  

These are just speculations based on the fact the Biden/Kamala's administration has been attacking on crypto while Trump promises to do the opposite. But we don't know if Trump will keep his words because he's a politician and a politician tell you what you want to hear.

The election hype seems to be becoming a "buy the rumor, sell the news" type of event.

Bitcoin rallied when we heard that Trump will be at the BItcoin Conference. He was talking during the event and people were calling for a new ATH, instead it peaked at $70K and started to head down. Did he say anything negative about crypto? Absolutely not. But yet the market still sold off on his speech.

This is no different to when Elon Musk tweets something about DOGE, the coin pumps and then later it starts to fade. Because people are starting to realise that these words and tweets mean very little when no action is actually taken.

I don't see it that way. People who believe bitcoin will fall to $30k are pretty bearish and should not be investing at all.
Kamala isn't going to be good for bitcoin, but it was the same with Biden and we survived that. We had years of their administration spreading FUD like the one that miners are a cause of global warming and may use all the power in the us and start blackouts. This was fear mongering at its finest courtesy of the socialists. It did nothing, it was all debunked by smart senators like Kennedy and others.

I'm not a fan of Kamala, but I try to stick to the facts as much as I can and she's not going to destroy bitcoin or make it crash to $30k.

We need the hype of the election for BTC this current market. Trump might possibly help the market to grow more if he won since he supports crypto.

You know that the validation of political person that have a massive influence especially in US will definitely help the current market.

The presidential election that will be held in America will certainly have a slight impact on the price of bitcoin. Because so far Bitcoin has been included in this election. Because as we know, one of the American presidential candidates, Trump, is very pro-bitcoin. So with this, Bitcoin is also impacted by this presidential election. Maybe if Trump doesn't link or say anything about bitcoin, I don't think the presidential election in America will have much impact on the price of bitcoin. However, for now what is clear is that Bitcoin will definitely be impacted by the results of this presidential election. But I'm not too worried about this, because I believe the impact of this presidential election on Bitcoin will not be too significant. Because bitcoin is not a small asset. So it clearly takes more than just a presidential election in America to move market prices significantly. Since Bitcoin has a very large community in this world, it would definitely be quite difficult to manipulate everyone in it just by this (presidential election). Because since Bitcoin was created until now, the Bitcoin cycle has always been stable and not disturbed by anything. So if, for example, Kamala wins this presidential election, I don't think bitcoin will fall to $30K. Apart from that, if for example Trump wins, I don't think the price of bitcoin will necessarily rise to $90K. So basically don't worry about this, because instead of being too busy thinking about this, it's better for us to continue to increase our investment in bitcoin.

It's politics talking lol. I don't even see why X increase/decrease would happen when either party wins. Pretty sure any talks relating Bitcoin with Politics are just either side trying to sway some number of votes for their party.

Well either way if I were to pick which one was more likely to happen, I'd go for Trump. Iirc he has promised some Bitcoin-related movements in the past election as well and has done the same this election as well. I highly doubt it would happen, it's just propaganda on their side after all but if it does, then that's a pretty nice thing. If it doesn't, well, nothing much is lost lol. Bitcoin has lasted a decade without being touched by the government, pretty sure it can last another, maybe even more without it again.

No matter who wins the election, if there's any price movement, it's likely just temporary because the hype usually leads to short-term fluctuations. If Bitcoin reaches 90k, it's likely to hit 100k. However, politicians might not always be truthful, as they'll say anything to win an election. But if you're a Bitcoin enthusiast, you should vote in favor of the candicate that is pro bitcoin to help grow the ecosystem. Let’s wait for the results, but for me, it seems like Trump might win. If I believe Bitcoin will reach 90k, then I should hold now.

It's just dumb retail talk. Mostly its looney toon Trump supporters who want to try to somehow tie global incorruptible money to their corrupt candidate. It's honestly pathetic. If Harris wins the election, the looney toon extremist right may briefly dump their Bitcoin but then the rest of the world is going to buy it up, it'll be a short lived buying opportunity. Anyone dumb enough to sell Bitcoin because Trump loses deserves the selling low and buying back in higher that they are going to get.

Bitcoin is going to to great no matter what happens, though with Harris as president the US is going to be a stronger, safer, more free, and more prosperous country so obviously that is good for investments and we're going to see Bitcoin do well during a Harris presidency, no matter how much the crazy right wants to convince people that's not true. Regardless, Bitcoin has absolutely nothing to do with US politics, and the election has absolutely nothing to do with Bitcoin. It's so pathetic seeing people try to tie Bitcoin's outcome to this election. Anyone doing that, or calling Trump the "Bitcoin President" is extremely gullible and supports a criminal conman a lot more than they support Bitcoin.

To your notice, this isn't the first United States presidential election that Bitcoin has witnessed, from the year 2009 the time of Bitcoin creation, Bitcoin has witnessed about 3-4 administration and, it didn't stop Bitcoin from growing regardless of the outcome those elections, even when Donald Trump, the Republican Party won the elections.

If the expectation of people did not come through, especially crypto enthusiasts who are hoping to see Trump win this very election, or some investors waiting on the side to take a decision after the election, it can only cause a small distress in the market but won't change the overall long-term direction for Bitcoin.

The bottom line is that the election may have little or no effect on the price of Bitcoin or the market generally if Trump didn't win.

What is the logic.... why the elections would influence it? One is politics others is finance. 

I think interest rate cut is more bullish than the US election, after every rate cuts the market becomes bearish for a while but in time the market become bullish.

If Kamala Harris wins this still won't stop Bitcoin from going higher, think about it, this isn't the first election in the US, and we have been hearing similar stories for years, Kamala could win and Bitcoin will still do better, will Joe Biden was elected Bitcoin makes a new all time high.

This is enough prove that Election effect on Bitcoin price action is low, in the end what drives Bitcoin is the chart itself, retailers will be back but not if the sign of recession fades into the dark.

Maybe best to include this article https://www.coindesk.com/markets/2024/09/09/bitcoin-could-hit-90k-by-year-end-if-trump-becomes-president-again-bernstein/ So people could see on where this prediction of yours came from.

Since if it really happens that Bitcoin would pump under Trumps term then we maybe can see another good adaption to happen with bitcoin if that scenario will came, but as again this is just a speculation so we don't know if this will really happen since aside for predicting it there's lot of factors or scenarios which needed to look after. But its good that they are positive towards the effect of Trump if he win this election.

Although there are many questionable things that might happen if Kamala win and I guess she will just follow what Biden did since their party is really against of bitcoin and maybe by that time bitcoin would truly drop thru regulation they possibly create against bitcoin.

You're right, bitcoin existed even before many people knew about Kamala Harris & Donald Trump, so why does it seem like the upcoming election could affect the price of bitcoin?

In fact, bitcoin is the same as commodities that are generally traded such as oil & gold, there is a push and pull of market capitalization there, and because bitcoin is currently a commodity, social & cultural factors can influence their stance.

Trump is considered more pro towards bitcoin after what he said at the bitcoin conference in Nashville. Meanwhile, Kamala Harris is considered not pro-bitcoin because she comes from Democrat who does not have special attention to bitcoin. That's why the output of the election could affect bitcoin.

Assume that Kamala Harris can actually make negative impact on Bitcoin, her impacts on it would be very smaller than impacts of Covid-19. So positively thinking, even in a bad situation, Bitcoin will not have 40% - 50% drop because of Kamala Harris Elected President.

If Trump wins, with an assumption that his impact on Bitcoin is positively, it won't help Bitcoin to rise with similar ROI like it did from $5,000 to above $60,000 in the last market cycle. Because Bitcoin has bigger market cap in 2024 than in 2020 and having a similar ROI is impossible for this bull run in rest of 2024 and 2025 years.

Political changes in a big country like the USA. have impacts on the rest of world but my vision is wider than only this year or next four years, I am holding my bitcoin for next 10 to 15 years and see how it goes as well as how my portfolio goes.

Wrong, Bitcoin was invented in 2008 which is 16 years old while Kamala Harris born in 1964 and Trump born in 1946, both of them are older than Bitcoin.

There's nothing like if x person wins Bitcoin price will move to x price.

Take a look on this graph.



Trump won election in 2016, it doesn't make Bitcoin price pump, one year later Bitcoin make new ATH.
Biden won election in 2020, it doesn't make Bitcoin price pump, one year later Bitcoin make new ATH.

So, regardless which one wins the election, it doesn't affect Bitcoin to create new ATH in the next year!

Of course Bitcoin has survived this far before this people. I think the whole issue started when Donald trump was mentioning policies he would introduce for the betterment of the Bitcoin and crypto community, so that triggered the much support on Donald Trump for most investor and crypto enthusiast which makes Trump looks like a better option, so that's why you see 30k for Kamala Harris and 90k BTC price for Donald Trump, believing that if Trump wins, it will skyrocket the price of BTC to 90k.
However the sustainability of Bitcoin and the growth so far bitcoin will attain doesn't lie on this election, the 90k projection by some persons is just a make believe that if their own is in authority, that should be the price, forgetting that the price of Bitcoin can even go beyond 90k with or without the election as market force's can trigger a bull run.

It’s not everything but short term it definitely could have an impact on the price. I despise a leftist, socialist government, they tax you to within an inch of your life & give it to the work shy. Immigration is rife, it infuriates me. Make no mistake, Bitcoin will perform better under a capitalist, conservative government.

The election does not affect BTC in itself, what people are looking at is the influence of the election on the price of BTC. A certain candidate has made so many of them believe that he will make policies that would augur well for BTC and so cause the price to rise.

I believe both candidates only have one ambition and goal, and that is to become POTUS, they might be playing a bit of politics with BTC, trying to get the crypto community on their side, especially with Trump; i don't really care about that, but maybe we should stop arguing about the elections and wait, it is almost here and soon we'll know what's going to happen.