24 Hours Till US Presidential Elections: Altcoins Drop Faster Than Bitcoin; Trump to the Rescue?
Anjali Belgaumkar4 Nov 20242 min read
Bitcoin nearly reached a new all-time high this week but is currently hovering around $70,000. As we approach the U.S. elections in just 24 hours, market anxiety is palpable, reflected in Bitcoin’s recent decline, although it’s still resting at a strong trend line.
While Bitcoin’s price is stabilizing, altcoins are dropping faster, leading to a shift in Bitcoin’s market dominance. Many in the crypto community anticipate a Trump victory, but it’s essential to evaluate various potential outcomes and strategize accordingly. It’s a defining moment for the year, and those who engage wisely in the market could see life-changing gains.
The elections are more than just a voting day; they are the culmination of months of campaigning and speculation. As of now, early voting has already seen about 77 million ballots cast, representing 40% of the expected voter turnout.
Key swing states will likely determine the outcome, but current polls offer mixed signals. Regardless of the predictions, it’s crucial to stay informed and adaptable.
If Trump Wins – Crypto Market Predictions
It’s clear that if Trump wins, we can expect a market spike; conversely, a Kamala Harris victory would likely trigger a dip. A Trump victory is generally seen as bullish for Bitcoin. Given his pro-crypto stance, many believe the price could soar. Historically, Bitcoin’s price has mirrored Trump’s polling numbers—rising when his odds improve and falling when they decrease.
Altcoins are expected to perform well under Trump’s leadership, especially with the anticipated removal of Gary Gensler from the SEC. Predictions suggest that Bitcoin could potentially reach between $80,000 and $100,000 shortly after the election results.
If Kamala Wins – Market Scenario
Now, let’s consider the alternative: what happens if Kamala Harris wins? This scenario raises concerns among traders, as her administration might continue the current regulatory environment, which many view as unfavorable for the crypto market. In this case, we could see a dip in both Bitcoin and altcoins.
