QCP Capital says the upcoming US presidential election might push Biden toward Crypto support
QCP Capital explained the strategy to handle Bitcoin & Ethereum trading for this year, amid a hostile crypto regulatory environment, & noted that huge chances for Bitcoin peak to appear in November.
QCP Capital is an exempt payment services provider having a pending licensing with the Monetary Authority of Singapore as an MPI for Digital Payment Token Services under the Payment Services Act (2019). This platform time to time provides a strategy to trade crypto assets on behalf of sentiments in the market, as a tip.
On 10 May 2024, QCP Capital shared its analysis of bearish sentiments around the crypto market.
Payment service provider noted that crypto trade volume is continuously getting down which is dragging trade prices to break out of the narrow range (BTC May into the 40s and ETH May in the mid-50s).
They suggested two ways to handle this situation on behalf of future situations.
First of all QCP experts noted that US elections may play a very important role in pushing the trade price of financial assets high, in crypto & stock markets.
QCP experts believe that Nov will be very bullish for crypto & stock because of the US presidential election.
“Specific to this election, Trump has been making crypto-friendly overtures which could illicit a a similar tone from Biden as both try to win the crypto vote. It may result in crypto-positive rhetoric as the respective campaigns.“
In short, currently, former US President Donald Trump is supporting Crypto adoption and there are huge chance that current President Joe Biden may jump to support this sector to win crypto people’s votes against Trump.
QCP Capital believes that if Biden will jump to support the crypto sector then there are huge chances for Bitcoin to hit $100k to 120k.
Some Crypto X (Twitter) users shared their opinion on this information shared by QCP & noted that people are not gonna trust Biden if Biden suddenly starts to show love for Bitcoin & Crypto.
