Trump vs Harris The Change the US Election Will Bring to the Cryptocurrency Market

- Comparison of Trump and Harris's Cryptocurrency Policies - Cryptocurrency Market Outlook Depending on Each Candidate's Victory [Unblock Media] With the U.S. presidential election just a month away, the cryptocurrency industry is paying close attention to how the policies of a Trump or Harris administration might impact the market. Each candidate has demonstrated contrasting approaches to cryptocurrency, raising several questions about the industry's future. Trump has historically been critical of Bitcoin but has shifted to a more favorable stance toward cryptocurrencies this year. He has accepted campaign contributions in cryptocurrency and stated his intention to make the U.S. a dominant force in Bitcoin mining. Furthermore, Trump plans to appoint a cryptocurrency-friendly chair to the Securities and Exchange Commission (SEC) and has proposed a national strategic Bitcoin reserve plan. Trump's pro-cryptocurrency policies are expected to lay the groundwork for Bitcoin to become mainstream and send positive signals to institutional investors. His policy support and friendly regulatory environment are anticipated to attract new investments into the market. On the other hand, Vice Presidential candidate Harris has yet to mention cryptocurrencies in her speeches or policy statements until recently. However, at a Wall Street fundraiser in September, she emphasized consumer protection while also expressing support for the cryptocurrency industry. In a subsequent speech at the Pittsburgh Economic Club, she stated that the U.S. should dominate the blockchain sector, adding that digital assets and artificial intelligence are part of her "Opportunity Economy" vision. Harris's "Opportunity Economy" vision aims for innovation and inclusive growth through blockchain and AI technologies. Bipartisan support for cryptocurrency could be encouraging for industry players. For instance, Uniswap founder Hayden Adams regards Harris's progressive approach as positive compared to President Joe Biden. Adams views Harris's policies as promoting regulatory compliance while maintaining blockchain innovation. In contrast, Bernstein analyst Gautam Chhugani argues that the cryptocurrency community requires more policy clarity from Harris, noting that the industry's sentiments might be stronger under a Trump victory. Chhugani emphasizes that Harris's ambiguous policies could increase investor uncertainty, whereas Trump's clear policies could foster market stability. There is an optimistic outlook for the cryptocurrency market regardless of the election outcome. Bitwise's Chief Investment Officer Matt Hougan said, "There is a growing sentiment that cryptocurrency will be a winner regardless of what happens in November." However, the impact of each candidate on the market will differ. President Trump's policies are likely to favor major cryptocurrencies like Bitcoin, backed by legal changes such as the abolition of certain levies. The Harris administration is likely to focus on consumer protection and regulatory clarity. Ultimately, a Trump re-election could lead to a faster rise in Bitcoin due to his pro-cryptocurrency policies. In contrast, a Harris victory might result in slower cryptocurrency growth, but there remains potential for long-term development through the "Opportunity Economy" incorporating blockchain and AI. In conclusion, the cryptocurrency market is likely to experience short-term volatility based on the election results, but continued growth is expected in the long term as both sides acknowledge the importance of cryptocurrency and blockchain technology.