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COINTURK NEWS > Bitcoin (BTC) > Bitcoin Thrives Regardless of US Presidential Leadership
Bitcoin (BTC)

Bitcoin Thrives Regardless of US Presidential Leadership

In Brief

  • Bitcoin's performance remains strong regardless of the ruling party in the US.

  • Regulatory policies might have more impact on the crypto market than presidential elections.

Ömer Ergin
Ömer Ergin 8 months ago
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As the US presidential elections approach, discussions about their potential impact on Bitcoin’s (BTC) future intensify. Historical data suggests that Bitcoin’s performance is unlikely to be significantly affected by election outcomes.

Contents
Matrixport: Bitcoin Flourishes Under Any US PresidentUS Presidential Elections May Impact Regulatory Policies

Matrixport: Bitcoin Flourishes Under Any US President

According to a graph shared by Matrixport, Bitcoin $103,718 has achieved significant gains during both Republican and Democratic administrations over the last two US presidential terms. The leading cryptocurrency has surged regardless of which party holds the White House keys.

When comparing Bitcoin’s performance during the presidencies of Donald Trump (2016-2020) and Joe Biden (2020-2024), it shows strong upward trends in both periods. Under Trump, Bitcoin experienced substantial growth, and this trend continued under Biden. Its return reached 1421%, compared to 313% in the previous administration.

The data indicates that Bitcoin maintains its strength in every term, revealing that its price is influenced more by broader market dynamics than by US political leadership.

US Presidential Elections May Impact Regulatory Policies

Although there is significant focus on who the next US President will be and how it might affect Bitcoin’s price, the impact is expected to be more significant on regulatory measures within the crypto market rather than on Bitcoin itself. Regulatory policies have the potential to shape the environment for Bitcoin and other altcoins. Analysts believe that despite potential regulatory changes, Bitcoin will continue to rise due to its decentralized nature and the increasing global adoption of cryptocurrencies.

While media attention centers on the elections and their potential outcomes, Bitcoin’s stable performance in various political environments indicates that investors should focus on the long term rather than the short term for the crypto king.

At the time of writing, Bitcoin is trading at $56,591, down 1.21% in the last 24 hours. Meanwhile, data shows that the leading cryptocurrency has fallen by 0.28% over the past 7 days.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Ömer Ergin 11 September, 2024 - 4:34 pm 11 September, 2024 - 4:34 pm
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