Quote from: Saucemanofff on September 13, 2024, 02:35:25 PM

Just days after former President Donald Trump and Vice President Kamala Harris faced off in their first debate, Polymarket odds have shifted to show Harris pulling ahead. However, an analyst at British multinational bank Standard Chartered believes a new Bitcoin all-time high price will come this year regardless of who wins the election.

At the time of writing, crypto bettors favor Democratic candidate Harris to win the 2024 Presidential Election in November by a narrow margin—50% to Republican rival Trump's 49%, according to Polymarket odds.

Still, the election is 54 days away and crypto gamblers on the decentralized prediction market have overwhelmingly favored Trump since February. It's also worth noting that U.S. citizens are banned from using Polymarket. Granted, some American voters have likely found ways to access it with VPN services, but it's likely that many people betting on the election aren't themselves registered U.S. voters.

But for what it's worth, more traditional polling has showed Harris pulling ahead of Trump for a while now.

The crypto betting site also shows that Harris is trending ahead in two swing states: Michigan and Wisconsin, where Polymarket now rates her as having a 58% chance of taking the states' combined 25 electoral votes. The vice president is now very close to flipping Nevada, which would earn her an additional six electoral votes. But Harris, who only just joined the race in July when President Joe Biden pulled out, still trails significantly in three other key states: Arizona, Georgia, and Pennsylvania, which account for a combined 46 electoral votes.

Many analysts have been saying that a second term for Trump would bode well for Bitcoin and the broader crypto industry. But Standard Chartered's Geoff Kendrick, global head of digital assets research, isn't convinced the difference would be that stark.

"First, we think progress on relaxing regulations—particularly the repeal of SAB 121, which imposes stringent accounting rules on banks’ digital asset holdings—will continue in 2025 no matter who is in the White House; it would just be slower under a Harris presidency. He added that while the outcome of the election is still relevant to crypto markets, it's now less so than before President Joe Biden dropped out of the race.

The bank is now predicting Bitcoin will hit an all-time high before the end of the year regardless of who wins—$125,000 in the event of a Trump victory and $75,000 if Harris wins.

"A Harris victory would likely trigger an initial price decline," Kendrick wrote, "but we would expect dips to be bought as the market recognizes that progress on the regulatory front will still be forthcoming, and as other positive drivers take hold

let's seee what happens

The election will certainly be a fierce one as Donald Trump is not a first timer in this kind of situation, he understand how monkey the waters are and believe he can withstand the storm when it comes, meanwhile on the other hand, Kamala Harris is driving in with a strong force due to the power of incumbency she enjoys as the vice president to Joe Biden which is a very big leverage on her own part.

However I will go with what the Bank has predicted, they will certainly be a Bitcoin price high before the the end of the year, but the figures they gave for both Kamala Harris and Donald Trump is what I cannot ascertain but i certainly know that there will be a pump.
Why is everybody saying that there might be a decline in the price if Kamala wins the election, I haven't seen anywhere Kamala Harris has categorically been against Bitcoin or any incitement against Bitcoin, so why notion of decline if she wins, I understand the point that Donald Trump has been a pro Bitcoin advocate, but we should be mindful most times with political promises.