Major

Victory

Bitcoin

Elon Musk

As the 2024 U.S. elections approach, Bitcoin and the broader crypto market are attracting the attention of over 50 million Americans. Experts are evaluating how a potential Trump victory could affect Bitcoin prices and the broader landscape of crypto policies. 
<a href="https://www.qubetics.com/?utm_source=TNYR&amp;utm_medium=postBANNER" target="_blank" rel="noopener nofollow"><img loading="lazy" decoding="async" class="size-full wp-image-24541 aligncenter" src="https://www.turkishnyradio.com/wp-content/uploads/2024/10/Qubetics-is-728x90-1-1.jpg" alt="Qubetics is 728x90 1 1" width="728" height="90" title="Risk of a Major Bitcoin Sell-Off: Could the U.S. Elections Impact the Market? 45"></a> 
With the general election set for November 5, 2024, the cryptocurrency market, led by Bitcoin, continues to gain momentum. The rising interest from both retail and institutional investors is fueling this growth, while political messaging around crypto is heightening expectations. According to recent analyses, more than 50 million voters in the U.S. have already invested in cryptocurrencies, and this number is expected to rise. 
<h2 id="trump-s-victory-could-influence-bitcoin-s-price">Trump’s Victory Could Influence Bitcoin’s Price</h2> 
According to Polymarket predictions, Trump’s chances of defeating Kamala Harris in the upcoming election have risen to 63%. Meanwhile, Elon Musk estimates that Trump’s likelihood of winning could reach 69%, based on his popularity in key swing states. 
Amid these developments, crypto investors are taking positions with the expectation that Bitcoin could enter a strong upward trend, similar to patterns observed in past election cycles. However, <a href="https://www.turkishnyradio.com/bulls-at-odds-peter-schiffs-surprising-advice-to-bitcoin-bull-michael-saylor/" target="_blank" rel="noopener">Peter Schiff</a>, a long-time critic of Bitcoin, has warned that a Trump victory might trigger a “sell the news” event, leading to significant selling pressure. 
<blockquote class="twitter-tweet"> 
 The <a href="https://twitter.com/hashtag/Trump?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">#Trump</a> trade is on, yet <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">#Bitcoin</a> is the one Trump asset not rallying. It’s widely believed that a Trump win is bullish for Bitcoin. So why isn’t Bitcoin rising along with the betting odds on Trump? Maybe all the speculators have already bought. Get ready for the Trump dump. 
 — Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1848881765168951761?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">October 23, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Schiff also predicts that amid global inflation and economic uncertainty, investors will continue shifting toward gold. Recently, gold reached an all-time high of over $2,730 per ounce, solidifying its status as a top-performing asset in the precious metals market. 
<h2 id="will-the-u-s-elections-cause-a-bitcoin-price-drop">Will the U.S. Elections Cause a Bitcoin Price Drop?</h2> 
Legendary trader Peter Brandt believes that Bitcoin is at a crucial crossroads, and its next move could determine the direction of the market. From a technical analysis perspective, Brandt suggests that Bitcoin could either drop to $48,000 or experience a strong rally toward new all-time highs. 
<img loading="lazy" decoding="async" class="alignnone size-full wp-image-25009" src="https://www.turkishnyradio.com/wp-content/uploads/2024/10/chart-4-1.jpeg" alt="chart 4 1" width="1644" height="1200" title="Risk of a Major Bitcoin Sell-Off: Could the U.S. Elections Impact the Market? 46" srcset="https://www.turkishnyradio.com/wp-content/uploads/2024/10/chart-4-1.jpeg 1644w, https://www.turkishnyradio.com/wp-content/uploads/2024/10/chart-4-1-768x561.jpeg 768w, https://www.turkishnyradio.com/wp-content/uploads/2024/10/chart-4-1-1536x1121.jpeg 1536w" sizes="(max-width: 1644px) 100vw, 1644px"> 
At the same time, institutional investors, led by U.S.-based spot Bitcoin ETF issuers, continue to invest in Bitcoin and the broader crypto market, expecting inevitable growth in line with gold and major stock indices.

Risk of a Major Bitcoin Sell-Off: Could the U.S. Elections Impact the Market?

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