Bitcoin will benefit from Joe Biden's election as President

by in Cryptocurrency News

Bitcoin will benefit from Joe Biden's election as President

If the Democratic candidate Joe Biden becomes the president of the United States, then the phase of mass adoption of bitcoin will begin.

They published a report later this week, which also says that if Biden wins the election, the likelihood of Bitcoin ETF approval is high. If a new team comes to the White House, then the policy towards the cryptocurrency industry will be relaxed.

The authors of the report believe that the Biden government will create conditions for a more confident growth in the value of BTC and other cryptocurrencies.

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But the market for decentralized financing DeFi will be hard times. The new administration will begin introducing crypto regulation, which will lead to the cleanup of the DeFi space and the liquidation of many projects.

Four years ago, halving (reduction of miners' reward) and presidential elections in the United States also took place. Shortly after these events, Bitcoin's rise began. Analysts predict that the positive trend is likely to continue. In the long term, the strengthening of BTC will continue; by 2024, the cryptocurrency may rise in price to $ 80,000.