PANews reported on November 5 that according to Bloomberg, small cryptocurrencies such as Doge and Solana have generally performed worse than Bitcoin for most of this year, but they may become the most risky cryptocurrencies after the US presidential election. Zaheer Ebtikar, founder of the cryptocurrency fund Split Capital, said: "For Bitcoin, the outcome of the election is not important. But if Harris wins, altcoins (cryptocurrencies other than Bitcoin and Ethereum) may not rebound as much. They are the biggest winners or losers in this election."
Ebtikar added that if Harris wins, it could mean a bigger regulatory crackdown on the crypto industry, while Bitcoin and Ethereum could survive because the two cryptocurrencies are considered more decentralized than other cryptocurrencies. During the campaign, Republican candidate Trump took a strong pro-cryptocurrency stance, while Democratic opponent Harris pledged to support the establishment of a regulatory framework for digital assets. Cryptocurrency supporters generally believe that Trump's victory will be more favorable to the crypto industry.
Other traders believe that regardless of the election outcome, it will be good news for the cryptocurrency market overall. Shiliang Tang, president of Arbelos Markets, said: "In the medium term, we think the market will continue to move higher regardless of who wins as we shift our focus from the election back to the macro economy and the Fed."
