In general, former President Donald Trump and current Vice President Kamala Harris are running for the presidency. Trump’s team has been doing everything to please cryptocurrency voters since the beginning of this year. Harris, on the other hand, still hasn’t voiced a clear position on regulating the digital asset market.

US President Joseph Biden

Investors’ concerns about the likely collapse of BTC are also related to the negative reputation of the US Democratic Party, to which Harris belongs. Still, the current administration of Joe Biden has not contributed to the normalisation of what is happening with crypto in the country, which has already resulted in numerous lawsuits against top representatives of the industry.

New prediction for Bitcoin

If Republican candidate Donald Trump wins, analysts expect a new record for the price of Bitcoin by the end of the year, rising to the zone of 80-90 thousand dollars. Such a thing is explained by the fact that the former president actively supports the cryptocurrency industry and is at least verbally aware of its key problems in the US.

With this in mind, Trump previously promised to turn America into the cryptocurrency capital of the world. For this purpose, it is planned to develop new adequate regulation for the sphere of coins, to fire the current chairman of the Securities Commission Gary Gensler, as well as, among other things, to abandon the sales of cryptocurrency, which was previously confiscated and is now in the wallets of the government.

Former US President Donald Trump

However, if current Vice President Kamala Harris wins, Bitcoin will break the support line at $50,000 and return to test the $30,000-$40,000 range. It was formed during the approval of the spot Bitcoin-ETF at the beginning of the year.

A four-hour chart of the Bitcoin BTC rate on the Binance exchange

According to analysts, despite attempts to reach out to both sides of the political spectrum, representatives of the crypto industry are still leaning more towards Trump. Here is a commentary on the matter cited by The Block.

While crypto industry leaders have been more open to the Harris campaign and are hoping for more constructive policies, we expect the difference for Bitcoin between the two political election results to be large.

Former US President Donald Trump

The market has come under severe regulatory pressure in recent years, with this situation also overshadowed by the history of collapse of large sphere companies like FTX and Terra. However, the subsequent legal actions against giants like Coinbase, Binance and Uniswap have undermined the industry’s confidence in the Democrats and allowed us to draw appropriate conclusions about their stance on the coin world.

The clarity and tone of politicians’ promises on cryptocurrencies also vary widely, analysts said. Trump has strongly advocated making the US a much more suitable region for blockchain developers and entrepreneurs, and has mentioned this in various speeches and detailed his intentions in general.

At the same time, Harris has not touched on the topic of cryptocurrencies in any of her speeches or policy statements. And the media also got wind of Kamala’s team’s collaboration with Bharat Ramamurthy, a former economic advisor to the Biden administration and a prominent critic of cryptocurrencies. It is believed that he is the ideologist of the “Operation Lure 2.0”, which involves an active fight against the popularisation of digital assets.

Odds on Trump and Harris winning on the Polymarket platform

The odds on the winner of the pectoral US presidential election continue to hint at Trump’s best odds. Today, the probability of his victory is estimated at 52 per cent, while Harris’ result is 46 per cent.

Among critical states, Trump is currently ahead of Harris in Arizona, Georgia, Nevada and Pennsylvania, while Harris leads in Michigan and Wisconsin. However, national polling data remains mixed. Therefore, it is extremely difficult to predict the outcome of the election.

More clarity will come from the debates between the two candidates, which will take place tonight. Moreover, in the next few days, key metrics on the US economy will also be published.

In addition, Bitcoin’s hash rate has reached a new all-time high. According to Presto analysts Peter Chang and Ming Jun, this is the perfect set up for a new uptrend to form on the BTC chart. Here is their quote, as cited by Coindesk.

Amid the macro factors dominating the BTC price conversation lately, the market is overlooking one of the key features at the core of Bitcoin’s value – the security of its network. The hash rate has reached an all-time high of 679 exahashes per second, making it the most secure network to date.

It is important to note that the BTC blockchain has long been characterised by its huge hash rate against other PoW networks. Therefore, the current activity of miners is not unexpected.

The Trump and Harris debate will take place tonight

Some traders noted that the lower-than-expected US payrolls data points to a weaker labour market.

But the decline in the unemployment rate reduced fears of an impending recession. This opinion was shared by Lucy Hu, Senior Analyst at Metalpha.

It seems that lower wage data on the back of forecasts is dominating the market at the moment, as most assets in the markets fell in value after the publication of the reports on Friday. We expect the crypto market to remain extremely volatile until the next Fed meeting.

The next FOMC meeting will take place on 18 September. That is when the Fed leadership will announce a cut in the benchmark interest rate, which should improve what is happening in the economy.

CPI index in the USA

Also scheduled for Wednesday is the release of the Consumer Price Index (CPI) data and on Thursday the Producer Price Index (PPI).

It is impossible to predict the exact reaction of the price of BTC and other coins to what is happening, but against the background of the upcoming debates, the main cryptocurrency will obviously be marked by high volatility.


The experts' verdict is obvious - the US presidential election will seriously affect the industry of digital assets and other financial markets. Therefore, investors should not only be cautious, but also carefully monitor the development of the situation. As recent weeks have shown, the coin niche reacts to various news from this sphere almost instantly.