Singapore, Singapore, September 19th, 2024, Chainwire
FBS, a leading global broker, presents an overview of financial market trends in the context of the 2024 US presidential elections. FBS financial market analysts particularly underscore the rising investment potential of Bitcoin in the context of Harris-Trump uncertainty .
FBS analysts highlight that financial markets are experiencing turbulent times and investors are looking for safe-haven assets like gold and government bonds. According to the FBS experts, cryptocurrencies, particularly Bitcoin, become more appealing. FBS financial market analysts have explored Bitcoin’s historical performance during past US elections and speculated on its potential role in 2024.
In previous election cycles, Bitcoin’s price reactions to political events have varied:
- In 2012, during Barack Obama’s re-election, Bitcoin had little market impact due to its developing status.
- By 2016, following Donald Trump’s victory, Bitcoin gained institutional recognition, with its price rising as a hedge against economic uncertainty.
- In 2020, amid the COVID-19 pandemic, Bitcoin surged after Joe Biden’s election, driven by inflation fears and institutional adoption.
FBS analysts warn that the 2024 US presidential election could significantly influence Bitcoin’s future:
- A victory for Kamala Harris may bring balanced regulation that fosters innovation but could also raise compliance costs for US-based exchanges.
- Donald Trump’s platform includes encouraging Bitcoin mining and lowering capital gains taxes, which could increase demand for cryptocurrencies.
FBS analysts believe Bitcoin’s long-term position in the financial markets is solidified. Growing institutional interest points to its potential as a legitimate hedge against macroeconomic risks.
Disclaimer: This material does not constitute a call to trade, trading advice, or recommendation and is intended for informational purposes only.
ContactFBS Press Officepress@fbs.com