Crypto analyst predicts Bitcoin crash to $16,000 if Kamala Harris becomes President

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Last Updated on 31 August 2024 by CryptoTips.eu

It is clear that Donald Trump is the preferred choice of crypto fans out of the two US presidential candidates,. After the failed assassination attempt on him in July, the Bitcoin price rose by about $10,000 in a few days simply because analysts believe that his policies are more crypto-friendly.

In recent months, Trump has presented himself as the ‘crypto president’ and even promised to create a strategic Bitcoin reserve (although he remained quite vague about the details for such a plan, but that is of course typical for his style).

Some analysts are therefore including the US presidential elections in their current analysis of the Bitcoin price, and one was very bearish this week as it now appears Kamala Harris is taking a slight lead.

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Krugman

The well-known New York Times columnist (and former winner of the Nobel Prize for Economics)Ā Paul Krugman was surprised this weekĀ about the gigantic sums that the crypto industry is providing to Republican candidates in order to finance their election campaigns. However, given the political climate in 2024 this is actually not that surprising.

Current President Joe Biden’s Democrats have been very negative towards digital currencies ever since the FTX scandal in 2022. Given the popularity of Kamala Harris in recent opinion polls, the Democrats are not gonna radically change their position on this. Young voters, with whom crypto is very popular, seem more likely to vote for Harris than for Trump anyway.

2022

Some analysts are therefore becoming very negative in their predictions. This includes the famed Mr Crypto, who has more than 100,000 followers on social media.

He predicts a price of $16,000 if Harris wins in November, which is quite remarkable because that would mean a return to a low last seen in 2022.

Mr Crypto says he expects the Democrats to continue their opposition to crypto and that Harris’s economic plans would mean the US will accumulate an even larger debt pile in the future.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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