BTC Price Could Fall if Kamala Harris Wins Presidency, Analyst Says

BTC Price Could Fall if Kamala Harris Wins Presidency, Analyst Says

The price of Bitcoin (BTC) could suffer if investors believe Democrats will pursue stricter cryptocurrency regulations if Vice President-elect Kamala Harris wins the presidency, according to Ruslan Lienkh, a market analyst at crypto exchange and lender YouHodler. Lienkh wrote in a blog post on Friday that the pressure from the Securities and Exchange Commission (SEC) is likely to continue if Harris is elected. The SEC is likely to try to apply the same framework to the crypto market that it has for the legacy financial system, he said. "The crypto market is still in its early stages of development, and there is a lot of uncertainty about how it will be regulated," Lienkh said. "If the SEC takes a more aggressive approach to regulating crypto, it could create a lot of uncertainty and fear in the market, which could lead to a sell-off." However, Lienkh also noted that there are a number of factors that could support the price of BTC in the long term, such as the increasing adoption of cryptocurrencies by businesses and institutional investors. "The long-term outlook for BTC is still positive," Lienkh said. "However, in the short term, the outcome of the election could have a significant impact on the price."