The U.S. leads financial market-influencing variables. Attention is on the U.S. ahead of the September FOMC meeting and November elections. These occurrences impact conventional markets and crypto fans who want legislation to relax bitcoin laws.
This year was crucial for cryptocurrencies. Bitcoin has reached record highs, and the US approval of spot Bitcoin and Ether ETFs is a huge step toward mainstream acceptance. These successes demonstrate the growing globalization of digital currencies, setting the path for more political and regulatory scrutiny as the election approaches.
Experts say crypto ETFs have legitimized the market. Some users think they mostly affect market inflows. Regardless, the US presidential election will affect both sides. The President's pick might influence market sentiment if pro-crypto candidates win.
“Since 1927, recessionary elections have seen the incumbent party lose 70% of the time. In the year after the election, the incumbent usually loses when the economy enters a recession. This election is different because the hot-button topic is prices and inflation, which have been difficult to control and have affected affordability and disposable income, said Subho Moulik, Founder & CEO, Appreciate.
Avinash Shekhar, CoFounder & CEO, Pi42, thinks the US elections will impact investor mood, crypto legislation, and digital asset development, making them crucial for the crypto industry.
“It is important to realize that the elections will shape the future of digital assets, blockchain solutions, and the crypto sphere,” Shekhar stated.
With BTC at an all-time high and BTC and ETH ETFs approved, the year has been historic. These milestones show increased user interest in digital currency and set the groundwork for regulatory scrutiny as the election approaches.
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