The market generally prefers a victory for the Republican candidate, Donald Trump. A Kamala Harris government would be perceived as a continuation of the current administration. Bitcoin (BTC) left the 'uptober' behind and went 100% into «election mode.» Tomorrow will be the last day of the elections in the United States that will define who will be the next president. Donald Trump (Republican) and Kamala Harris (Democrat) are competing for a job in the White House for the next 4 years. And BTC (or at least its price) is no stranger to the political and macroeconomic events taking place in the world's main financial power. Less than a week ago, BTC was a few hundred dollars away from marking a new all-time high, but it wasn't to be then. At the time of this publication, the digital currency created by Satoshi Nakamoto trading below $68,000.
Bitcoin (BTC) price during the last week. Source: TradingView. As BitcoinDynamic has reported, The market generally prefers a victory for Donald Trump. His promises to turn the United States into a paradise for Bitcoin mining and to establish a strategic national reserve of BTC win over the Bitcoiner electorate. On the other hand, an Executive Branch chaired by Kamala Harris would be perceived as a continuation of the current administration of Joe Biden, who does not enjoy much sympathy from the cryptocurrency-friendly electorate. Therefore, it can be anticipated that in approximately 24 hours, when the winner is known (if the difference between the two is not too close and there is no problem with the counting of the votes) the price of BTC could react upwards to a Trump's victory or down in the face of a Harris victory. Analysts at Bernstein, a financial investment firm, predict that bitcoin in the coming weeks could skyrocket to $90,000 or plummet to $50,000, depending on the election result. Beyond that, in the longer term, they anticipate BTC will reach $200,000 in 2025, no matter who the winner is. But, until it is known who will be the next president of the United States, the only certainty is high volatility. Therefore, for the remainder of this Monday and for tomorrow, Tuesday, BTC is expected to have large fluctuations in its price.