The US election isn’t just a major event for people who live in the USA. In fact, it can have wide-reaching implications for people all over the world, especially those who are interested in cryptocurrency.

Donald Trump and Kamala Harris have widely diverse opinions about how the crypto market should move forward, so whoever gets into power could have a strong influence on the evolution of digital currencies.

US Election a Huge Global Event

The US election can have an impact on so many different industries, and it’s huge news throughout the world. Only people in the USA can vote on the outcome, but that doesn’t stop foreigners in other countries from wagering on who they think will win. Indeed, online betting sites now give people the chance to bet on US elections, with various markets available such as Winning Party and Vote Share Percentage.

The politics betting markets give people a lot of ways to interact with the event, and it’s not just about picking a winner. For example, it’s possible to get odds on Trump or Harris winning certain states or winning a certain percentage of the popular vote.

Along with bettors, economists will be interested in the election, as it can influence the global markets. It is particularly notable that the last two presidential elections have been followed by huge upsurges in the cryptocurrency markets. Bitcoin is currently in a bullish trend, but some people are predicting that it will enter a turbo bull market in the latter stages of 2024.

Parties Have Diverse Stances on Cryptocurrency

There has been a lot of talk about Bitcoin and other cryptocurrencies from the main presidential candidates in the lead-up to this election. Harris is likely to continue many of Joe Biden’s policies if she’s elected, and these have leaned towards more regulatory scrutiny of crypto markets. She could enforce stricter rules for crypto businesses and exchanges, and this may have a negative effect on innovation.

In recent years and as part of his campaign process, Trump has become more crypto-friendly. He has embraced the industry and now seems to believe that the US could become a global leader in crypto innovation if he gets into office. Therefore, a win for Trump could be bullish for the crypto markets.

Election Result May Not Have Massive Effect

The good news for people interested in crypto and hoping for the bull run to continue is that the election may not have a massive effect on the price. The fact that the last two elections have led to an increase in its valuation could be coincidental, with other factors at play.

For example, whoever gets into office will want to stimulate the economy rather than risk entering a recession. This means more liquidity, which is believed by many to be a driving force behind Bitcoin’s valuation.

Investors typically don’t like times of uncertainty, which is why the crypto market has been ranging for a while in the lead-up to the election. The next president may have an impact on crypto depending on their policies, but it’s unlikely to be a major price influencer. As many analysts have concluded, the main driver of the Bitcoin markets is global liquidity.