Politics has become much more important for the sector with the global acceptance of cryptocurrencies. The Biden administration’s ongoing regulatory crackdown in the crypto space, trying to discipline the sector with sanctions (from its negative perspective) rather than rule-making, has turned the November 2024 US elections into a much more critical event. So, what’s the current situation? What awaits cryptocurrencies in the coming days?
Harris and Trump to Debate
The Presidential Debate announcement was made recently and will be held on Tuesday at 9:00 PM US time. The debate, hosted by David Muir, will take place at the National Constitution Center. Linsey Davis will serve as the moderator. Harris’s candidacy for the Democrats began after Biden’s humiliation in his debate with Trump.
The first debate is extremely important for the Harris and Trump contest. The 90-minute debate will conclude with Trump’s closing speech, giving him an advantage. No pre-written notes will be allowed during the debate. Additionally, questions and topics will not be shared with the candidates beforehand.
Candidates will be given a pen, paper, and a bottle of water. They will have 2 minutes to answer questions and 2 minutes for counter-responses. There will be two commercial breaks, and advisors will not be able to speak with the presidential candidates during these breaks.
The debate conditions are very suitable for the parties to reflect their own abilities and perspectives.
Impact on Cryptocurrencies
Trump and Harris will compete on equal terms, and their performance here is important for cryptocurrencies. If Trump suffers a defeat similar to Biden’s, things could get even more difficult for him as Harris gains psychological superiority with the support of the polls. In a scenario where Trump weakens further, cryptocurrencies will be negatively affected.
The questions will be prepared by the journalists organizing the event. So, it is not certain whether cryptocurrencies will be directly mentioned in the debate. Due to the interest in crypto, such a question might be included, but if it isn’t, investors might react similarly to the Space broadcast with Musk and Trump, leading to sales.
It is more likely that there will be no questions about crypto because there are certainly no shortage of topics to discuss in US domestic politics. There are many questions that can be directed at Trump, who has been convicted of serious crimes for 34 years and labeled a liar. If Harris can properly exploit topics like Trump’s stance on abortion, the January 6th Capitol attack, character issues, or legal troubles, she can damage her opponent.
Finally, Trump can say very interesting things and try to divert the topic when he is cornered. Previously, he mentioned things like Harris becoming “blacker,” and if he makes such interesting remarks in the program, it could be problematic for him.
