The upcoming elections in the United States may have a significant impact on the crypto industry.
Republican Candidate, Donald Trump has taken a pro crypto stance and he has already stated that he proposed America to be a national reserve for Bitcoin.
Trump also has a stance of easing crypto regulations in the country when he comes into power by creating a “Bitcoin and Crypto Presidential Advisory Council” to develop regulations favorable to the industry.
This could lead to a bullish market sentiment.
Conversely, a potential win for Kamala Harris who is the Vice President, may introduce stricter regulations which could lead to bearish trends.
To me, with the win of Kamala, Biden's policy towards cryptocurrency may remain the same or we could see a more stricter stance towards cryptocurrency.
Even though Kamala just stated that she supports digital assets, her administration is probably going to maintain the existing administration's regulatory stance, which might result in increased scrutiny of the cryptocurrency industry.
Overall, the cryptocurrency industry exhibits strong long-term momentum, irrespective of the election's outcome.
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