With Cryptocurrency investors are bracing their selves for volatility, as U.S. presidential polls indicate a tight race. But What is the impact of the outcome of the elections on the future of crypto? Gregory Mall.
With Cryptocurrency investors are bracing their selves for volatility, as U.S. presidential polls indicate a tight race. But How important is it that the outcome of the elections determines the future of cryptocurrency in the medium and long term?
Looking When we look at implied volatility for BTC or ETH options, there is a clear spike around U.S. Election Day. This is not surprising since overall volatility will likely increase around this date. InterestinglyBTC Put/Call Skew (the difference between the price of a comparable put and call option) signals an optimistic curve. Even longer dated options with expiries beyond the election dates (>3 months) are showing a call premium over puts. This It’s surprising, given that the presidential election is on a knife-edge and anyone can guess the winner. It The market seems to be optimistic no matter who wins the election.
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Source: Deribit, 15.10.2024
Source: Deribit, 15.10.2024
Until President Biden Dropped out of the race JulyIt was a bit like Trump The crypto community’s clear favorite was Bitcoin. In The aftermath of a failed assassination. July On 12th, bitcoin rose from $56,000 to $65 000, as a result of the expectation that the former President would benefit from this incident. Trump’s The way people view crypto has changed over the years. As He expressed skepticism about crypto, claiming they could be used for illegal activities, such as drug trafficking. He Also mentioned at one point, that he views bitcoin as a competing currency against the dollar. In He has, in recent times, embraced crypto with a passion, promising that the U.S. will become a cryptocurrency nation. “bitcoin superpower” Then, there is the “crypto capital of the planet” Under his leadership. His Campaign now accepting bitcoin donations He Also, he said he would replace SEC Commission Chair Gary Gensler, a figure who is notoriously hated by crypto enthusiasts. This The pivot appears to have worked. Most The crypto community has rallied around Trump.
But Trump Not only has he discovered the growing demographic of crypto constituencies, but many others have as well. While The following are some of the ways to get in touch with us. Biden The administration has taken an extremely strict approach in regards to crypto laws. Vice President Harris Has signaled that she will take a more positive approach to the technology. She also refuted the allegations that the industry would be slapped with a crackdown. HarrisSpecial interest groups that promote crypto are increasing their pressure on the government to support it. By AugustThe crypto industry spent an unprecedented amount on research and development. Donations totaling $119M According to a non-profit organization’s research Public Citizen. According According to a report, crypto corporations contributed nearly half (44%) of the total corporate money spent in this year’s elections.
So Which candidate is best for crypto? Maybe The better question to ask is: Does it really matter? Although It is a common belief that a Trump The options market is cautiously optimistic despite the highly unpredictability of the outcome. With An estimated 40% of American Adults owning cryptoIt seems that neither candidate can ignore any longer the demand for a level playing field in terms of regulation. Now The question of whether or not candidates will follow through with their electoral promises is a completely different matter. But The numbers and the public discussion show how far this industry has come over the years. It has effectively evolved from a niche of libertarians into a powerhouse, with significant lobbying and influence.
Note: The The views expressed here are those solely of the author. CoinDesk does not necessarily endorse them. Inc. Or its owners and affiliates.
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