Is The election worth the hype for BTC

[GiftedMAN]

I see so many people believing that the election is everything for Bitcoin from here and out.

It's just a temporary hype, weeks or a month or two of effect might be enough especially if trump wins where most crypto users hope for his BS bitcoin talks. But if the opposing side wins, it might be a longer dump despite of the support it might do to bitcoin. Price will go dump if these voters or observers thinks that there's no development of the talks/promises which news media will always sell the hype that could affect the decisions of many for FOMO.

The way the hype is going I think it may last longer than expected if the media keep spreading the information and Trump keeps using bitcoin as part of his campaign strategy when ever he is making his speech, And if Trump is finally elected as the president whether he shows support as he earlier said there will be a great increase in the price of bitcoin because a lot of people will consider his statement as a strong hold to keep buying bitcoin now with the hope of making profit when he is elected to make profit.

If the reverse becomes the case, the people will start selling with the fear of not knowing what will become of bitcoin investors but regardless of this I think bitcoin will not be affected for a long time even though the election did not go as expected.

[d5000]

I think one of the narratives that helped to (some Bitcoiners) put so much focus on the election could be this one:

1) Bitcoin is currently in a bubble due to the ETFs, it should be lower.
2) The dip to 49-50k was not a dip, but a real correction and should have been only the start of an even more pronounced downward move (to 38 or even 32k).
3) But only because Trump endorsed crypto and Bitcoin, the price could recover and is now again close to the level we've seen in the last months (roughly 59-72k).
4) Thus, if Kamala wins, this recovery could be classified as a "dead cat bounce" and we're heading again to 3x.xxx.

I believe that this narrative is not very convincing.

As many have already posted, the 70k+ levels were reached during Biden's tenure. So as long as Harris does not make anti-crypto politics part of her campaign, I see no reason why Bitcoin should be affected by her winning the election, as it's the same political force in charge.

In addition, the correction to 50k levels was healthy enough for me. It was close to 30%, and thus very similar to previous corrections in bull markets.

I think Bitcoin will be completely fine if Kamala Harris wins.

@Don Pedro Dinero: Interesting

[hd49728]

I think one of the narratives that helped to (some Bitcoiners) put so much focus on the election could be this one:

1) Bitcoin is currently in a bubble due to the ETFs, it should be lower.
2) The dip to 49-50k was not a dip, but a real correction and should have been only the start of an even more pronounced downward move (to 38 or even 32k).
3) But only because Trump endorsed crypto and Bitcoin, the price could recover and is now again close to the level we've seen in the last months (roughly 59-72k).
4) Thus, if Kamala wins, this recovery could be classified as a "dead cat bounce" and we're heading again to 3x.xxx.

I believe that this narrative is not very convincing.

Narratives are different in their stories and borrowed reasons to make these stories logical in their own ways but I see a common thing among them.

Bitcoin is a bubble or not, people can disagree but at the end of already happened bubbles, Bitcoin did not die [1] no matter how many people made many calls "Bitcoin is dead". That means Bitcoin is here to stay and its price won't collapse to a few cents or zero. I am happy with its ability to survive in this market over the past 15 years since 2009.

[1]
Bitcoin obituraries
“Bitcoin Is Dead” - The #1 Database of Notable Bitcoin Skeptics
Bitcoin deaths

[d5000]

Bitcoin is a bubble or not, people can disagree but at the end of already happened bubbles, Bitcoin did not die [1] no matter how many people made many calls "Bitcoin is dead". That means Bitcoin is here to stay and its price won't collapse to a few cents or zero.

You're here writing about longer terms. I think most people agree with what you wrote i.e. that Bitcoin won't fall that easily to "a few cents" (I do agree here too) but this doesn't mean that Bitcoin has to be worth 50.000$ or more

The narrative I'm talking about is more a short- to midterm bubble. It's mainly that "Bitcoin is not ready for new ATHs again" and that it's "fair price" is maybe currently around 30-40k, or even still 20k.

It's a bit more difficult to refute than the one about "Bitcoin will not die", because it's difficult to evaluate Bitcoin's fair price.

But in my opinion, Bitcoin has indeed succeeded in mastering some more "adoption steps" in 2023-2024, which means that it is justified that its price is higher now than in 2022:

- US ETFs (paving the market for institutional US investors)
- Hongkong ETFs (maybe even more important than the US ETFs because they're hinting perhaps at a policy change in one of the biggest markets of the world, China)
- One major candidate of the US presidential election directing his campaign to crypto / Bitcoin users - hinting that they could be an interesting voting demographic.

I believe the US election is indeed a major adoption step for Bitcoin. But not because of the nature of Trump's announcements, but simply because it was mentioned prominently. AFAIK the only election before where Bitcoin was mentioned prominently in a major campaign was in El Salvador (people may correct me if I'm wrong). In Argentina's 2023 election for example Bitcoin was briefly mentioned in the current president Milei's campaign but played a very minor role.

[asriloni]

Should we be putting so much weight on the US election in order for Bitcoin to grow

The election won't have much impact on bitcoin itself but whoever wins will likely have an impact on whether or not we, as bitcoiners, are criminalized and face imprisonment for using bitcoin.

You're indirectly saying the election has an impact on bitcoin. Any crypto related policy issued by the elected candidate will impact the btc. Even if you like it or dislike it.

There's no single event that we should focus on or worry about to protect bitcoin but privacy is a human fight and we should all be doing what we can to protect ourselves from legal persecution. That may involve politics in some capacity. 

BTC doesn't need to be protected, but the result from the election will have either a bad or good impact to btc.

[legendbtc]

They control and influence almost everything in this world, I don't think they will ignore bitcoin or it can avoid them.

The BTC market in ths U.S. is very large and it is true that their government has a lot of influence, even on cryptocurrencies, and if they make crypto friendly policies and support crypto, it will be great and will aid adoption. However, i don't expect such friendliness irrespective of whoever wins, i know that one candidate is leaning towards support for BTC, but between the candidates i don't think there'd be much difference in policies and bills that will be signed into law concerning BTC and crypto.

I think on the contrary, I think there will be a huge difference between each government's policies and different impacts on the crypto industry. That is why I do not expect and do not expect a crypto-unfriendly government to be elected, which will slow down the development of crypto.

Many people think it would be great if bitcoin were not involved in political rivalries and completely separate from government. That is an ideal scenario but we need to accept the fact that it will never happen because as bitcoin becomes more and more popular, it is inevitable that it will attract the attention of institutions and governments. Organizations like us want to make more money while the government wants taxes from us and doesn't want anything out of their control. So I think the best thing we can do is adapt and support the person who does the least harm to it.

[CageMabok]

Should we be putting so much weight on the US election in order for Bitcoin to grow or it is just a dumb retail talk?

I see so many people believing that the election is everything for Bitcoin from here and out.

If kamala wins it is 30k for BTc and if Trump wins its 90k for BTC. ..

But Bitcoin was here before these people and it survived this far, what could possibly go wrong anyways if this or that happen?

The US election is not everything for Bitcoin because this year Bitcoin has already risen sharply without any influence from any election in the world and as you said Bitcoin was there before these people ran for US president now and in the past we have also seen how Bitcoin can grow well without having to depend on elections in any country. And for now I don't think Bitcoin will immediately break $90K if Trump wins this election and vice versa, but Trump's closest people are people who are already quite familiar with Bitcoin so there is a possibility for Bitcoin to increase if there are many new investors who are quite happy with Bitcoin through Trump's influence.

[uchegod-21]

Should we be putting so much weight on the US election in order for Bitcoin to grow or it is just a dumb retail talk?

I see so many people believing that the election is everything for Bitcoin from here and out.

If kamala wins it is 30k for BTc and if Trump wins its 90k for BTC. ..

But Bitcoin was here before these people and it survived this far, what could possibly go wrong anyways if this or that happen?

Hi.
America is the world power and besides bitcoin is a speculative assets. It responds speedily with the happenings in the environment and we all know that US election has a great weight in the world, not only in crypto but even in forex and bonds.

With or without US election, with or without Trump winning, bitcoin remains, but the effect of the election will affect the bitcoin price.

[Hamza2424]

Hi.
America is the world power and besides bitcoin is a speculative assets. It responds speedily with the happenings in the environment and we all know that US election has a great weight in the world, not only in crypto but even in forex and bonds.

With or without US election, with or without Trump winning, bitcoin remains, but the effect of the election will affect the bitcoin price.

TBH, I won't comment on whether America is a world power or not, but as you know the elections impact the monetary policy and growth of the economy, according to the global great economies as America is one of the biggest economies it directly influence the behavior of the risk investment markets and other financial markets as well. So yup Elections are somehow important if the government takes action against or in favor of the risk investment markets by changing their monetary policy.

[AmoreJaz]

The US election is not everything for Bitcoin because this year Bitcoin has already risen sharply without any influence from any election in the world and as you said Bitcoin was there before these people ran for US president now and in the past we have also seen how Bitcoin can grow well without having to depend on elections in any country. And for now I don't think Bitcoin will immediately break $90K if Trump wins this election and vice versa, but Trump's closest people are people who are already quite familiar with Bitcoin so there is a possibility for Bitcoin to increase if there are many new investors who are quite happy with Bitcoin through Trump's influence.

With or without politicians in play on this market, bitcoin and crypto in general will survive. Their participation will only further boost the demand or popularity depending on how they are influencing this market. If they are supporting this market, for sure, they will approve bills related to it and it can possibly increase the demand in this currency market.

What I always think of was when China banned the usage of crypto. As we all know, China is one of the superpowers on this world. And yet, they couldn't have the influence to stop or shutdown the operations of crypto. What more of selected politicians? They may influence but they don't have the control of what this market can achieve in this generation. So for me, we are looking at limitless possibilities. And that is actually good for all crypto enthusiasts, users and patrons.

[Y3shot]

Should we be putting so much weight on the US election in order for Bitcoin to grow or it is just a dumb retail talk?

I see so many people believing that the election is everything for Bitcoin from here and out.

If kamala wins it is 30k for BTc and if Trump wins its 90k for BTC. ..

But Bitcoin was here before these people and it survived this far, what could possibly go wrong anyways if this or that happen?

Whether any of these presidential candidates fancy bitcoin or not, bitcoin will continue to be what it is. Before now bitcoin has faced so many challenges which many thought it won't exist by now but bitcoin have done very well by gaining more adopters and increasing I'm value. It is a good thing to have a president that is cool with bitcoin but if eventually they are against Bitcoin it won't stop Bitcoin from existing or  not having good value. Bitcoin is so powerful right from time and no individual can add to it or otherwise. If people are so powerful to harm Bitcoin it won't even be existing by now.

[Yatsan]

Should we be putting so much weight on the US election in order for Bitcoin to grow or it is just a dumb retail talk?

I see so many people believing that the election is everything for Bitcoin from here and out.

If kamala wins it is 30k for BTc and if Trump wins its 90k for BTC. ..

But Bitcoin was here before these people and it survived this far, what could possibly go wrong anyways if this or that happen?

Clearly, by looking to Bitcoin's future, it's easy to see why people are concentrating on the US elections, because major events in the political sphere may take on crucial significance for the direction and regulatory frameworks of financial markets. At the same time, people often forget that Bitcoin has been able to show flexibility long before this very political context emerged. So because cryptocurrencies have been built in such a way as to be quite decentralized and independent of any particular group or party. That is among their biggest advantages.

Alternative election results may certainly influence the regulatory environment of Bitcoin or the market sentiment surrounding Bitcoin, but the value of Bitcoin should be established by various factors that include adoption, new technology, and market sentiment. Macroeconomic trends and overall market volatility Predictive prices of political events related to price movements are usually based on speculation and unlikely to capture the long-run potential for Bitcoin.

In the final analysis Elections and political decisions can have a bit of an impact, but that is good proof that Bitcoin's fundamental value is in being first and truly borderless digital money. For several reasons, it continues evolving. Consider it in broader context. Do not put too much focus on just one point or speculation.

Should we be putting so much weight on the US election in order for Bitcoin to grow or it is just a dumb retail talk?

I see so many people believing that the election is everything for Bitcoin from here and out.

If kamala wins it is 30k for BTc and if Trump wins its 90k for BTC. ..

But Bitcoin was here before these people and it survived this far, what could possibly go wrong anyways if this or that happen?

Whether any of these presidential candidates fancy bitcoin or not, bitcoin will continue to be what it is. Before now bitcoin has faced so many challenges which many thought it won't exist by now but bitcoin have done very well by gaining more adopters and increasing I'm value. It is a good thing to have a president that is cool with bitcoin but if eventually they are against Bitcoin it won't stop Bitcoin from existing or  not having good value. Bitcoin is so powerful right from time and no individual can add to it or otherwise. If people are so powerful to harm Bitcoin it won't even be existing by now.

Personally I think you are also correct that the strength of Bitcoin lies in its local structure and its ability to defy the attacks. Irrespective of who these presidential candidates are or what their stand regarding Bitcoin is, the basic characteristics of cryptocurrencies - security, fragility, and local manufacturing - have made it successful, and the same has made it adopted for the future. Bitcoin has been designed to withstand the ordeal of politics and economies. And to prove such strength, it has been surviving many trials in its life.

While political leaders and their policies will alter the regulatory environment and influence market sentiment, they cannot change the essential features or potential for Bitcoin to grow in value. Value in cryptocurrencies combines several technologies into one. Acceptance rate and market changes Over anything or any event or political issue that might be brought against it. As discussed above, Bitcoin has been able to overcome its previous challenges and is still evolving. This suggests the existence and value of Bitcoin do not depend on particular political associations.

The US election is not everything for Bitcoin because this year Bitcoin has already risen sharply without any influence from any election in the world and as you said Bitcoin was there before these people ran for US president now and in the past we have also seen how Bitcoin can grow well without having to depend on elections in any country. And for now I don't think Bitcoin will immediately break $90K if Trump wins this election and vice versa, but Trump's closest people are people who are already quite familiar with Bitcoin so there is a possibility for Bitcoin to increase if there are many new investors who are quite happy with Bitcoin through Trump's influence.

With or without politicians in play on this market, bitcoin and crypto in general will survive. Their participation will only further boost the demand or popularity depending on how they are influencing this market. If they are supporting this market, for sure, they will approve bills related to it and it can possibly increase the demand in this currency market.

One can easily realize that Bitcoin, just like the total cryptocurrency market, has shown great strength and resistance to constant growing without any political interference. Survival and growth so far are a result of its strong foundation and the requirements of robust shared resources.

Indeed, policymakers could be influential in formative changes in markets through regulation and public perception influence. It is without a doubt that positive policies and better regulations boost up the demand and the trend continues and this may push up the market value. On the other hand, privacy policy may cause problems. But it won't break away from its fundamental principles and functionality of cryptocurrencies.

In the long run Whereas political activities are embedded in behavior and market adoption But long-run value and sustainability of Bitcoin lies in the regional infrastructure and objectives that the invention of digital currency established by Taco. As we see herein, Bitcoin has faced many challenges, but it continues its rise With or without special political support

[Sayeds56]

Should we be putting so much weight on the US election in order for Bitcoin to grow or it is just a dumb retail talk?

I see so many people believing that the election is everything for Bitcoin from here and out.

If kamala wins it is 30k for BTc and if Trump wins its 90k for BTC. ..

But Bitcoin was here before these people and it survived this far, what could possibly go wrong anyways if this or that happen?

Your question is interesting and timely, given the current situations where political parties are running campaigns for elections in November,24, in the USA.
While financial policies of elected government will certainly influence the financial markets including Bitcoin, however Bitcoin price is primarily driven by adoption, regulation and macroeconomic conditions. The policies of the new administration regarding regulation and adoption could definitely have positive impact on Bitcoin the market.

[mamesso]

If kamala wins it is 30k for BTc and if Trump wins its 90k for BTC. ..

The rise and fall of Bitcoin prices is completely unrelated to the election, it should be underlined that Bitcoin has experienced various shocks before the excitement of this election, but because of its strong fundamentals, until now Bitcoin has still been able to show its class as the most profitable crypto asset.
I don't care who wins this election because they have never been able to control the price movement of Bitcoin even though they have been president because the price of Bitcoin is purely determined by supply and demand, personal month. Bitcoin was already growing rapidly before they hitched a ride to boost its popularity during the election campaign, although even without the presence of these two politicians, Bitcoin would still have received support from retail and institutional investors.

[arwin100]

If kamala wins it is 30k for BTc and if Trump wins its 90k for BTC. ..

The rise and fall of Bitcoin prices is completely unrelated to the election, it should be underlined that Bitcoin has experienced various shocks before the excitement of this election, but because of its strong fundamentals, until now Bitcoin has still been able to show its class as the most profitable crypto asset.
I don't care who wins this election because they have never been able to control the price movement of Bitcoin even though they have been president because the price of Bitcoin is purely determined by supply and demand, personal month. Bitcoin was already growing rapidly before they hitched a ride to boost its popularity during the election campaign, although even without the presence of these two politicians, Bitcoin would still have received support from retail and institutional investors.

Crazy to think about that way since Election cannot bring demand. People will always dictate the flow of the market and the result cannot influence anything since the want of people to acquire bitcoin will remain there.

I guess they are reading to much article and believe about those lies of politicians so maybe they should not hope for more since its expected that lots of their promises will be broken. Politicians are good at lying so expect that they say nice words when they need something to people since they would do all things they can to catch peoples attention. We just need to see the result if they win then implement a good law that protect bitcoin or crypto since maybe for that we can say that it will help to add some demands due to the actions they made for this coin.

[$weetne$$]

Whether any of these presidential candidates fancy bitcoin or not, bitcoin will continue to be what it is. Before now bitcoin has faced so many challenges which many thought it won't exist by now but bitcoin have done very well by gaining more adopters and increasing I'm value. It is a good thing to have a president that is cool with bitcoin but if eventually they are against Bitcoin it won't stop Bitcoin from existing or  not having good value. Bitcoin is so powerful right from time and no individual can add to it or otherwise. If people are so powerful to harm Bitcoin it won't even be existing by now.

The United states of America president do not control the price of Bitcoin therefore Bitcoin can do well regardless of the president being cool with Bitcoin or not. We should not be looking for president that are cool with Bitcoin because none of them really are but are looking for ways to control Bitcoin. Trump has not spoken good about Bitcoin when he was president or when he left office but because he is trying to go back into the white house, he is now speaking good about Bitcoin. We do not know what his intentions really are and he might be worse than Biden when he enters the white house and say he is doing it to protect the citizens of America. The election is not worth the hype but it is good as it is making more people to know about Bitcoin that they might later make investment into Bitcoin and increase the adoption.

[ethereumhunter]

Should we be putting so much weight on the US election in order for Bitcoin to grow or it is just a dumb retail talk?

I see so many people believing that the election is everything for Bitcoin from here and out.

If kamala wins it is 30k for BTc and if Trump wins its 90k for BTC. ..

But Bitcoin was here before these people and it survived this far, what could possibly go wrong anyways if this or that happen?

Whether any of these presidential candidates fancy bitcoin or not, bitcoin will continue to be what it is. Before now bitcoin has faced so many challenges which many thought it won't exist by now but bitcoin have done very well by gaining more adopters and increasing I'm value. It is a good thing to have a president that is cool with bitcoin but if eventually they are against Bitcoin it won't stop Bitcoin from existing or  not having good value. Bitcoin is so powerful right from time and no individual can add to it or otherwise. If people are so powerful to harm Bitcoin it won't even be existing by now.

Bitcoin will grow more than now with or without the election because people choose what they want. If they like Bitcoin, they will still choose Bitcoin for their own reason and not because some people support Bitcoin because Bitcoin already gets many support from other people long way before. But if the president can support Bitcoin and gives a new regulation related to Bitcoin and that regulation is at Bitcoin side, that will give more confidence to people to use it. But if the president don't support Bitcoin, that will not be a problem with Bitcoin because other president will do that and will help Bitcoin adoption in their country. Bitcoin price itself will rise and reach new ATH so that will not always depends on an events because people support Bitcoin until now so that makes Bitcoin still existed.

[tygeade]

Should we be putting so much weight on the US election in order for Bitcoin to grow or it is just a dumb retail talk?

I see so many people believing that the election is everything for Bitcoin from here and out.

If kamala wins it is 30k for BTc and if Trump wins its 90k for BTC. ..

But Bitcoin was here before these people and it survived this far, what could possibly go wrong anyways if this or that happen?

Definitely not, it is not something that will impact bitcoin at all. We had a 2014 all time high of 1400 during Obama, we had 2017 year with 20k on Trump time, and we had Biden with 70k+ time during 2021 (and most recently this year too) and all the presidents had their new all time high. It doesn't matter if it's kamala or trump, we will have new high, then whoever is the next president that person will have a new all time high, and the next one and the next one and it will keep going like that. Because of this we do not and should not care about the president and whoever it happens to be.

Elections are quite important on other topics, it matters a lot on what Americans live day by day, but for bitcoin purposes, specially when you are not even American, it's literally the most irrelevant thing ever. Which is why we should feel fine about it and not really worry about if it will impact bitcoin at all. It won't and things will go on in either case the same exact way.

[Gladitorcomeback]

Definitely not, it is not something that will impact bitcoin at all. We had a 2014 all time high of 1400 during Obama, we had 2017 year with 20k on Trump time, and we had Biden with 70k+ time during 2021 (and most recently this year too) and all the presidents had their new all time high. It doesn't matter if it's kamala or trump, we will have new high, then whoever is the next president that person will have a new all time high, and the next one and the next one and it will keep going like that. Because of this we do not and should not care about the president and whoever it happens to be.

Well, based on the fact that Bitcoin and cryptocurrencies are being involved in the process and conferences and campaigns are being held by presidential candidates to earn votes from Bitcoin and cryptocurrency lovers within the country, it seems that there are going to be at least short-term effects of the results on the price because the market generally reacts to things in the real world that have a direct or indirect connection with cryptocurrencies.

Trump has been trending for showing support for Bitcoin and promising he would bring positive changes in the region for cryptocurrencies and their users and promoters if he gets elected. Now, if he gets elected, there will probably be more adoptions in the region and that can affect the price positively.

On the other hand, if he loses and doesn't get elected, the policies of the opposition might make the market take a short-term plunge because they wouldn't support it as much as Trump might do.

[Hamza2424]

Well, based on the fact that Bitcoin and cryptocurrencies are being involved in the process and conferences and campaigns are being held by presidential candidates to earn votes from Bitcoin and cryptocurrency lovers within the country, it seems that there are going to be at least short-term effects of the results on the price because the market generally reacts to things in the real world that have a direct or indirect connection with cryptocurrencies.

Trump has been trending for showing support for Bitcoin and promising he would bring positive changes in the region for cryptocurrencies and their users and promoters if he gets elected. Now, if he gets elected, there will probably be more adoptions in the region and that can affect the price positively.

On the other hand, if he loses and doesn't get elected, the policies of the opposition might make the market take a short-term plunge because they wouldn't support it as much as Trump might do.

In any direction the results on the market are gonna be temporary whether they are positive or negative, in the end, the market need to rely on its own, there's an exception of the government acknowledging the legalization of Bitcoin without making any strict policies and favor the risk market investment on a larger scale that brings a massive momentum. For the rest, this topic should get a break for now haha. Anyway, I would like to hear about who's gonna win if there's a local available. I've seen a voting thread on another forum where most of votes are in favor of Trump, as expected because they are crypto users so they giving him the upper hand but in reality, who's gonna win is not dependent on how crypto forum voting proceeds it depends on the ground realities in the US.