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A Potential Catalyst for the Subsequent Cryptocurrency Bull Market?


The 2024 U.S. Presidential Election might impression the cryptocurrency market. Find out about every candidate’s stance on crypto and the way their potential presidency might set off the following bull run.


  • The 2024 U.S. Presidential Election may very well be pivotal in shaping the following cryptocurrency bull market, with candidates’ stances on crypto being a key issue.
  • Incumbent president, Joe Biden, maintains a skeptical stance on cryptocurrencies, contrasting challengers like Ron DeSantis, Vivek Ramaswamy, and Robert F. Kennedy Jr., who help Bitcoin and the broader crypto market.
  • Candidates’ supportive views and actions towards Bitcoin might doubtlessly spark a bullish development within the crypto market.
  • The worldwide affect of the U.S. means a pro-Bitcoin president might encourage different nations to embrace crypto, resulting in a big increase for the business.

Incumbent and Challengers: Differing Stances on Crypto

Because the U.S. 2024 presidential election approaches, an intriguing query emerges: if the end result of this vote would result in the following cryptocurrency bull market? The potential for this lies within the political stances of the important thing gamers and the resultant coverage adjustments which may unfold.

The incumbent president, Joe Biden, maintains a cautious stance on cryptocurrencies. His tenure thus far has seen a extra cautious view on this burgeoning asset class, together with his proposed 30% tax on cryptocurrency mining. Biden‘s 2023 Financial system Report of the President (Chapter 8) additionally downplayed the enchantment and quite a few claims of crypto property, noting that many are speculative funding autos and even stablecoins might be topic to run threat. 


Most of his statements, tagged as “The Actuality of Crypto Property,” have confirmed to be true just lately with the large volatility within the crypto market, $UST’s sudden collapse, and extra. 

Whereas his statements are true, it’s a bearish sentiment for crypto and some extent of competition for a lot of candidates difficult him for the presidency. 

Among the many high-profile challengers are Robert F. Kennedy Jr., Vivek Ramaswamy, Ron DeSantis, and even former President Donald Trump, every of whom has expressed supportive views on Bitcoin and the broader cryptocurrency market. Their observe data on this subject present intriguing clues to the potential trajectory of the crypto business ought to any of them safe the presidency.

A Nearer Take a look at the Crypto-Pleasant Contenders

Regardless of Donald Trump’s previous feedback expressing skepticism about Bitcoin, he stays a supporter of the broader crypto market, significantly Non-Fungible Tokens (NFTs). The Trump-branded NFT buying and selling playing cards have garnered consideration within the crypto house, and lots of polls counsel he stays a well-liked Republican nominee.

One other main participant is the Florida Governor, Ron DeSantis. He’s a vocal critic of the proposed Central Financial institution Digital Foreign money (CBDC) and believes it represents a threat to monetary autonomy by centralizing energy. This perception extends to the Federal Reserve’s FedNow 24/7 Immediate Funds System, seen as a CBDC precursor. DeSantis’ dedication to a crypto-friendly future extends past phrases, as evidenced by the invoice he signed prohibiting federal CBDCs in Florida.

Entrepreneur and Republican candidate Vivek Ramaswamy additionally aligns with pro-crypto sentiments. As a part of his marketing campaign, Ramaswamy proposed that Bitcoin shouldn’t be regulated as a safety, additional demonstrating his help by accepting Bitcoin donations for his presidential bid.

To not be neglected, Robert F. Kennedy Jr., though unlikely to surpass Biden because the main Democratic candidate, has asserted his robust advocacy for Bitcoin and crypto applied sciences. His endorsement of Bitcoin as an emblem of democracy and freedom, coupled together with his current choice to buy Bitcoin for his youngsters, underscores his help for the crypto business.

A Bullish Future for Crypto?

The stances these candidates take towards cryptocurrencies might doubtlessly spark a bullish development within the crypto market. As a worldwide monetary powerhouse, the U.S. performs a pivotal position in shaping worldwide monetary developments. 

As evident in Micheal Saylor’s presidential ballot, residents are leaning on candidates which have full help for Bitcoin: 

A presidential endorsement of Bitcoin and different cryptocurrencies might encourage different nations to embrace crypto, considerably boosting the business and making it a sexy prospect for buyers.

Awaiting the Verdict: The 2024 Presidential Election

As November 5, 2024, approaches, the crypto world will watch the U.S. election keenly. The outcomes might convey a few new period for Bitcoin and cryptocurrencies, paving the way in which for the following bull market. 

Certainly, the destiny of the crypto market might effectively relaxation within the arms of the American voters. Might the most effective candidate prevail.

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