Will Bitcoin (BTC) Price Surge or Plummet After US Elections?

Will Bitcoin's Price Rise or Fall After the US Elections?

A renowned crypto analyst from Altcoin Daily has analyzed the potential impact of the upcoming US presidential election on Bitcoin's price.

Historical Market Performance

Historically, market performance has shown a weak correlation with the winning party. The long-term S&P 500 chart reveals a general upward trend irrespective of the election outcome.

Current Market Sentiment

Betting markets indicate a growing likelihood of a Trump victory. Billionaire investor Chamath Palihapitiya believes the economy favors Trump, based on market positioning.

Potential Short-Term Impacts

A Trump victory could initially boost stocks while raising inflation concerns, leading to investments in gold and Bitcoin as hedges. Conversely, a Harris victory might trigger a temporary dip, offering a buying opportunity. Betting odds suggest that a $100 investment on Trump could yield $162, while a similar investment on Harris could yield $240.

Standard Chartered's Forecast

Standard Chartered predicts Bitcoin will reach record highs by year-end, estimating a price of $125,000 for a Trump win and $75,000 for a Harris win, due to her historical crypto skepticism compared to Trump's more favorable stance.

Congressional Composition

The composition of Congress also influences post-election market conditions. Historically, markets have performed best under a Democratic president with a Republican Congress or a divided Congress.