If you’re fixated on the price of Bitcoin, then you may already have your answer.

On Election Day, America’s choice between former President Donald Trump and Vice President Kamala Harris carries consequences for the crypto industry—from a potential shakeup at the Securities and Exchange Commission (SEC) to the passage of a regulatory framework.

It could take days to determine Tuesday’s White House winner, but analysts told Decrypt that there are several tea leaves that traders could read into in the meantime, ranging from Senate races to the resiliency of Bitcoin’s price in the face of normally bearish news.

While Bernstein analysts forecast that Bitcoin could pop to $90,000 on a Trump victory earlier this week, Amberdata’s Director of Derivatives Greg Magadini told Decrypt that the Bitcoin futures “market is pretty convinced a Trump victory brings us past $80,000” by the end of the month.

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Author: André Beganski