If Harris comes to power, will altcoins drop directly by 40%?
After the 2020 election, investors sought refuge in cryptocurrencies, and Bitcoin continued to rise for about 66 days. In contrast, altcoins significantly plummeted by about 40% in the following two months. This scenario suggests that if Harris wins the election, Bitcoin may initially rise, while altcoins could drop first before gradually rebounding.
The market may react similarly this time, treating Bitcoin as a safe haven. However, one or two months later, as confidence in the entire crypto market rebuilds, altcoins may catch up. Since Biden took office, crypto developers have been leaving the U.S., which could impact the market's recovery while also strengthening the position of Asian markets.
In the current regulatory environment, especially regarding the SEC's stance on cryptocurrencies, meme coins may rebound again. Unlike altcoins that might face scrutiny from regulators, meme coins may not be impacted. This is because meme coins usually do not have centralized development teams and do not fall under the category of securities, making them less susceptible to regulatory constraints.
If Harris wins the election, the market may initially act cautiously and reduce risks. As confidence gradually returns, we may witness a sharp rise in market interest in Bitcoin and various meme coins. If this is the case, although many meme coins may rise, Dogecoin might be affected due to its association with Musk and the previous administration.
Until today, Old Li no longer dares to rashly guess the upcoming trends; if there is a pullback, I will increase my holdings, it's that simple!
If you want to seize this bull market, learning on the fly will definitely be too late, it’s best to have someone guide you for a quick start.
I am Old Li, welcome to communicate!
