QCP Capital suggests the election result could significantly influence Bitcoin’s trajectory. The market capitalization of Bitcoin, at $1.3 trillion, could make it less susceptible to volatility, despite the uncertainty surrounding crypto market future policies of both candidates.
Bitcoin’s price has risen as the US presidential elections approach, with analysts assessing how political dynamics might impact the cryptocurrency. While former President Donald Trump has expressed support for cryptocurrencies, advising a national Bitcoin stockpile and opposing the Federal Reserve’s digital currency plans, Vice President Kamala Harris has engaged with the crypto community, suggesting a more favorable regulatory environment.
Bitcoin is currently trading at $67,685, and some analysts predict it may soon surpass its all-time high of almost $74,000.
