CandleFocus Bitwise CIO Talks About The Impact Of The US Elections On Cryptocurrencies: “Regardless of the Results, Cryptocurrencies…”
2024-11-05
Author: Content Editor
Bitwise Chief Investment Officer Matt Hougan remains positive about the future growth of cryptocurrencies, believing that the adoption of crypto will continue to rise regardless of the outcome of the US presidential election. He stated that in the short term, a Trump victory would be preferable, but in the long term, Bitcoin, Ethereum, and stablecoins will thrive regardless of who wins. This is in contrast to some industry insiders who fear that a Kamala Harris presidency would be detrimental to digital assets. Hougan pointed to historical data since the 2020 elections, showing significant increases in the price of Bitcoin, crypto trading volumes, and the supply of stablecoins, and concluded that these trends will continue. He also reiterated his prediction that Bitcoin will trade above $80,000 in 2024, provided certain conditions are met. Hougan warned that a Democratic surge could pose challenges to the crypto sector but expressed confidence even in that scenario. Bitwise has filed regulatory applications for ETFs for Solana and XRP with the SEC.
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