Bitcoin (BTC) Price Will Fall If Kamala Harris Becomes US President (ChatGPT Speculates)

TL;DR

The presidential election in the United States could seriously affect the cryptocurrency market. Trump’s potential victory could boost BTC due to his pro-crypto stance, while his potential loss could have the opposite effect. Biden’s withdrawal has Trump and Harris tied with 44% support each, while Robert Kennedy trails behind. The possible reaction of Bitcoin

The US presidential election, scheduled for November this year, has been a very intriguing topic recently due to Joe Biden’s withdrawal from the race.

The current political leader of the States stated that his decision was “in the best interest” of the country, supporting Vice President Kamala Harris as the Democratic candidate. Soon after, he received the support of a majority of the party’s delegates, which means he has the best chance to oppose the Republican nominee, Donald Trump.

The outcome of the vote may lead to further volatility in the cryptocurrency market, especially the price of bitcoin (BTC). Over the past few months, Trump has presented himself as a pro-crypto candidate, promising to let the industry thrive. He also stated that the United States should increase its BTC mining efforts and opposed the idea of ​​launching a central bank digital currency (CBDC).

This has led some industry participants to envision a crypto meeting in the event of his potential election as the 47th US President.

But what would happen to the market if your opponent wins? We referred to ChatGPT with this specific question. The AI-powered chatbot estimated that BTC’s valuation could be negatively affected in the short term by this development, assuming the Harris administration follows in the footsteps of the current presidency.

Biden’s cabinet has previously addressed risks related to the cryptocurrency industry, emphasizing the need to implement strict and comprehensive rules in the space. He also explored the idea of ​​launching a CBDC.

On the other hand, ChatGPT stated that the potential election of Harris could benefit BTC investors if his administration enforces “a balanced regulatory framework that promotes innovation while ensuring safety.”

“Ultimately, the specific policies and regulatory measures implemented by your administration will play a crucial role in shaping the response of the Bitcoin market. Market sentiment, global economic conditions and other external factors will also significantly influence the Bitcoin price,” the chatbot concluded.

Who has the upper hand?

Recent polls show Trump garnering 43.5% support to Biden’s 40.2%. His lead began to increase in late June when the two opponents met for a public debate. The gap became even wider after Trump’s failed assassination attempt on July 13. A 20-year-old gunman then shot him, but the bullet only grazed his ear.

Biden’s withdrawal, however, appears to have changed the distribution of votes. According to Ipsos, Trump and Harris have an equal chance (44% of total support each) of winning in less than four months.

Robert Kennedy, the independent candidate, is trailing in third place. Interestingly, he has also publicly expressed strong support for BTC and expressed opposition to the creation of a digital dollar. Last year, he pledged to strengthen the official currency of the United States by backing it with certain precious metals and Bitcoin.

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