The US presidential elections have fully impacted the crypto market. Bitcoin and other altcoins have positioned themselves at the center of the scene.

Analysts warn that the volatility of BTC's price could intensify in the days following the election. Predictions of a victory for former President

The United States presidential elections are having a profound impact on the crypto market. Bitcoin and other altcoins have taken center stage.

According to analysts, BTC’s price volatility is expected to intensify in the days following the election. Anticipations of a victory for former President Donald Trump may contribute to an increase in the cryptocurrency’s value, potentially leading it to establish new all-time highs. However, irrespective of the winner, market sentiment seems to be largely anticipating sustained growth for the market.

As the elections unfold, Bitcoin is trading at around $70,300, showcasing a 4% daily increment. The trading volume has also surged by over 20%. However, the political uncertainty has kept investors cautious and waiting for the results. According to analysts at Bitfinex, while an increase in volatility may contribute to Bitcoin’s appreciation, its absence could indicate deeper problems in the market. Furthermore, an environment of apathy towards price movements may be interpreted as a sign of a more bearish sentiment.

On the other hand, the election results could also determine the future direction of cryptocurrency regulation in the United States. A significant proportion of Americans, ranging from 7% to 21%, hold digital assets. The crypto community has emerged as an influential electoral niche. Candidates' positions on cryptocurrencies are attracting increasing attention, especially in key states like Arizona and Georgia, where the number of digital asset advocates exceeds the vote difference in the 2020 elections.

Bitcoin (BTC) Poised to Benefit from Trump's Victory?

Trump has shifted his stance, presenting himself as a pro-crypto candidate, while the Biden-Harris administration has maintained a stricter approach to regulation. Cryptocurrency supporters are paying close attention to how the new administration will handle the future and potential of the industry. Many see Trump as a potential ally in promoting a more favorable regulatory environment.

The expectation of fluctuations in the crypto market aligns with lessons learned from previous electoral cycles. In 2016, following Trump’s victory, the market experienced a brief retracement, while in 2020, Biden’s triumph led to a surge in cryptocurrency prices. In this regard, investors are closely observing how the current situation could shape the future of regulation and market growth.

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