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Donald Trump Vs. Kamala Harris, Who’s Pro Crypto? Guess and Get a Chance to Win 10,000 USDT!

by Penny Angeles-Tan | Nov 6, 2024 | Business

Explore the 2024 US Election battle between Donald Trump and Kamala Harris, and how their policies impact the crypto ecosystem. Discover Trump’s pro-crypto stance and his potential to shape the future of Bitcoin mining, along with the latest market reactions. Plus, join Bitrue’s Election Forecast contest for a chance to win 10,000 USDT!

The United States General Election has attracted the attention of the global community, including crypto activists. During the campaign period, investors in the crypto ecosystem highlighted the views of the latest US presidential candidates, namely Donald Trump and Kamala Harris, on crypto. Donald Trump is indeed more open to the crypto ecosystem, including his plan to make America a center for Bitcoin mining.

So, who is superior in the 2024 US Election? Is Donald Trump still wanted to be the next US President compared to Kamala Harris by crypto activists? Or is Kamala Harris now superior in electability and able to attract the attention of crypto activists at the last second of the election?

Read the full and detail explanation in this article. You also have the opportunity to win 10,000 USDT in the Election Forecast contest currently being held by Bitrue.

US Election Battle: Donald Trump Vs. Kamala Harris

On November 5 local time, the US Election was officially held. Eligible Americans flocked to cast their votes for the candidate they wanted to become US President in the upcoming period. Donald Trump and Kamala Harris finally officially competed after campaigning for the past few months.

In the live report of the US Election when this article was written, it was known that Donald Trump was ahead in the vote acquisition by a fairly narrow value, namely 51.2% compared to 47.4%.

In the recording of this temporary report, Trump was seen to be ahead in various regions, such as Texas, Mississippi, Florida, and others. Meanwhile, Kamala Harris was ahead in more flashy areas, such as New York, California, and Washington DC.

For information about the Election system in the United States, today’s US Election voting is not the end. The elected president will be determined from the election conducted by the Electoral College where its members are also elected today. The election by the Electoral College will be held in December 2024.

Is Donald Trump More Pro Crypto Ecosystem?

The crypto ecosystem highlights in detail about the 2024 US Election. This is because the newest President of the United States is the one who determines how new regulations in the crypto and blockchain world will be in the future. Moreover, the SEC is often highlighted because of its very complicated rules regarding crypto licensing.

During the campaign, Donald Trump received a lot of praise from crypto activists. His plan to remove SEC members, his desire to make America a center for Bitcoin mining, and even his action of making payments at a pub using Bitcoin received a lot of praise.

On the other hand, Kamala Harris received less attention in the crypto ecosystem. Kamala Harris is not as old-fashioned as Joe Biden, but her plans for the crypto ecosystem have disappointed many. Especially when she explained about crypto and blockchain regulations during the campaign but did not use terms related to these things at all.

However, during the US Election campaign, there were many movements to support both candidates. Both Donald Trump and Kamala Harris received donation support for campaign costs. In fact, Joe Biden, one of the early candidates before Kamala Harris who later withdrew, also received “tips” from crypto activist groups.

Bitcoin Price Rises Significantly on Donald Trump’s Lead

As predicted, the 2024 US Election contest is indeed a determinant of how the ecosystem will run in the future. Big investors flocked to show support for their favorite candidates and this caused the crypto ecosystem to experience significant price changes in the last 24 hours.

Surprisingly, Bitcoin price today even experienced a drastic increase and recorded its latest ATH, which was at $ 75,000, whereas previously BTC’s ATH was at $ 73,800. Many investors are betting and along with Donald Trump’s superiority, crypto tokens are experiencing price strengthening.

At the time of writing, Bitcoin is trading at $74,065 with a 7.72% increase. In 24 hours, BTC was at its latest ATH, which was $75,407. As can be seen in the price chart above, the BTC RSI value is very high at 74.79, which means the buying trend is very high and can result in overbought.

Not only Bitcoin, various other tokens also experienced a significant increase in price. Ethereum recorded its latest price at $2,626 after experiencing an increase of 8.39%. Solana’s price increase even reached 15.73% so that it is now trading at $186.32.

Don’t forget about memecoin which also received sharp attention during the campaign period. Moreover, there is a meme token as a parody of Donald Trump, namely $TRUMP. However, unfortunately, currently, the TRUMP token has actually experienced a price decrease of 0.53% so that it is traded for $3,738.

Conclusion

Donald Trump Vs. Kamala Harris in the 2024 US Election will indeed determine the fate of the crypto ecosystem in the future. Crypto activists support one of the candidates, including major investors. If the candidate is elected, will the crypto ecosystem have friendlier and clearer regulations than now?

For those of you who want to participate in the 2024 US Election, but are not American citizens, you don’t need to be sad. Because, you can guess who will be elected as the next US president by following the Election Forecast currently being held by Bitrue.

You can choose Donald Trump or Kamala Harris as your champion. And if your choice is correct, you have the chance to win 10,000 USDT! How to participate? Immediately see the contest “Who Will Be Elected U.S. President, Trump or Harris?” which is on the Bitrue website right now!

Bitcoin Futures Trading: Market Analysis and Prospects

by Penny Angeles-Tan | Oct 27, 2024 | Business

Bitcoin futures open interest hits record high! In-depth analysis of its impact on the price of Bitcoin and the cryptocurrency market as a whole. Learn the risks and opportunities of Bitcoin futures trading.

Bitcoin futures trading, as per a report from Coinglass, has hit a new record high with open interest (OI) reaching $40.5 billion on October 21. These trades are carried out by various global crypto exchanges.

This article will provide detailed information regarding market analysis and the Bitcoin futures trading process. That way, you can do personal research before investing.

Bitcoin Hits $70,000

The increase in open interest coincides with Bitcoin price approaching $70,000, more precisely $67,027 with an increase of +0.50%. Open interest refers to the total value or number of futures contracts that have not yet expired. It serves as a leading indicator of market activity and investor engagement in Bitcoin derivatives.

An increase in OI can signal increased leverage in the system, potentially leading to greater market volatility. Periods of high open interest can cause significant market movements, especially when prices shift sharply. Such conditions can trigger chain liquidations, resulting in forced selling in the spot market and causing a sudden drop in Bitcoin prices.

A similar event occurred in August when Bitcoin prices plunged nearly 20%, dropping below $50,000 in just two days. On October 21, Bitcoin hit $69,380 in early trading but faced resistance, pulling back to around $69,033. As of now, the cryptocurrency is still 6.4% short of its record high of $73,738, according to CoinGecko.

Additionally, altcoins such as Ethereum and Solana have outperformed Bitcoin in recent daily gains. Ethereum naik by 3.5%, reaching $2,750, while Solana saw a 6% gain, nearing $170. Both assets have seen a slight decline from recent record highs.

Ethereum and Solana Rally as Bitcoin Dominates

While Bitcoin has been making headlines, this has not been the case for newer altcoins like Ethereum and Solana with daily gains. Ether rose by 3.5 percent to $2,750, meanwhile, Solana rose more than 6 percent to $170. Both assets have pulled back slightly from recent record highs.

The combined dynamics of the bitcoin and altcoin markets add a layer of complexity as altcoin performance can be impacted. Bitcoin may be the star, but investors are increasingly bullish on altcoins to increase returns. As the market grows, so does interest in alternative digital assets.

However, with Bitcoin futures open interest rising, altcoins also have risks to worry about. If Bitcoin prices swing wildly, so can altcoins. For this reason, market participants should continue to check Bitcoin and altcoins for possible price movements in the coming weeks.

US Election Triggers Bitcoin Surge Amid Uncertainty

The US presidential election drove Bitcoin’s recent surge. Before November 5, market players considered how the election results might affect the cryptocurrency market. Donald Trump’s increasingly crypto-friendly policies paved the way for Bitcoin, which has increased its poll numbers and lifted Bitcoin.

Under the Trump administration, higher US interest rates could boost Bitcoin by weakening other currencies, according to market analysts. ‘The fact that the dollar has been strong is a factor in recent market moves, prompting traders to look for ways to hedge currency risks.’

Traders are now considering whether to prepare for election-related trading, as with 15 days until voting day, they can make that decision.

Bitcoin Prospects

Bitcoin has seen its price drop in recent weeks. This is largely due to the bearish sentiment in the cryptocurrency market as a whole. However, some special factors have also influenced the price of Bitcoin.

One of these factors is the increase in mining activity. When more miners join the Bitcoin network, this can increase the supply of new BTC. Increased supply could put downward pressure on prices.

Even though Bitcoin has experienced a price decline in recent times, many analysts are still bullish on its long-term prospects. Bitcoin was the first cryptocurrency and is still the most famous. This platform has a strong ecosystem and continues to grow.

One factor supporting Bitcoin’s prospects is the increasing adoption of blockchain technology. The more companies and organizations start using blockchain, the more likely it is that Bitcoin will become the platform of choice.

Additionally, Bitcoin is developing several technical improvements that could increase its efficiency and scalability. This can increase the interest of users and investors.

Bitcoin Futures Trading Strategy and Risks

If you are interested in trading Bitcoin futures, there are several strategies you can use. One strategy is to use technical analysis to identify trading opportunities. Technical analysis involves studying price charts to look for patterns and trends.

Another strategy is to use fundamental analysis. Fundamental analysis involves studying factors that can influence the price of Bitcoin, such as mining activity, transaction costs, and technological developments.

Bitcoin futures trading can be very risky. Leverage can magnify both profits and losses. It is important to understand the risks before starting to trade.

Conclusion

Bitcoin is an attractive digital asset with long-term growth potential. However, like all investments, Bitcoin futures trading also carries risks. It is important to do research and understand the risks before starting to trade.

Bitrue has various features that you can use to do in-depth research before investing. You can check prices in real-time, check converting from BTC to USD easily, to find out about the latest BTC projects that are being carried out through the latest articles on the Bitrue blog.