As investors await outcome of the United States presidential election, the leading crypto Bitcoin is experiencing muted volatility.
The price of Bitcoin currently on coinmarketcap is around $68,767.62 and traders are adopting a cautious approach.
Analysts forecast that significant price movements may occur after the elections with possibilities of heightened volatility between November 5 and 8.
According to the prevailing sentiment, a Donald Trump victory could be bullish for Bitcoin, but a Kamala Harris victory might cause a temporary drop.
Donald Trump also has a stance of easing crypto regulations in United States when he is elected as President by creating a “Bitcoin and Crypto Presidential Advisory Council” to develop regulations favorable to the industry.
This could cause a bullish market sentiment.
On the other side, a potential win for Kamala Harris may introduce stricter regulations which could lead to bearish trends.
I have already wrote in my post about it here.
It's me, @justmythoughts, an ordinary Hive user looking to make the most of the platform. I will appreciate your support. Follow me for more. Thanks, Gracias :)