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As the U.S. presidential candidates make final preparations for today’s debate, there are crypto to own that could perform well during and post-debate.
The general market sentiment is that Republicans are pro-crypto, while Democrats have traditionally been more cautious. However, MicroStrategy founder Michael Saylor mentioned on CNBC that Republicans are more progressive on crypto, and Democrats are starting to shift toward the center, becoming more open to digital assets.
Following the debate, these three cryptocurrencies are likely to perform exceptionally well.
Best Crypto to Own Today
Crypto to Own – Bitcoin (BTC)
Bitcoin is an obvious choice at this point, given the intense promotion happening in the X cryptocurrency space. A year ago at the Bitcoin 2023 conference, Saylor predicted, “All the politicians are going to compete to see who supports Bitcoin more.”
ONE YEAR AGO Saylor made a prediction:
“All the politicians are going to compete to see who likes #Bitcoin more. Bitcoin is freedom. Anybody that runs for office in the United States is going to run on a platform of freedom… I think you’re going to see Republicans politicians… pic.twitter.com/vPKvaxlJim
— Walker⚡️ (@WalkerAmerica) May 22, 2024
This can be seen beginning to take shape today, as he also noted that the Democrats are beginning to move toward the center in their stance on Bitcoin and crypto.
Bernstein analyst Gautam Chhugani’s BTC price prediction suggests the Bitcoin price could hit $90,000 by the end of the year if Trump wins and $30,000 if Harris wins the election.
Latest polls by Fox News have Donald Trump crushing Kamala Harris nationally, further making it a top crypto to buy post-debate.
Ethereum (ETH)
Ethereum price continues to fight an uphill battle, having the most SEC-attacked projects in the crypto space. A hearing at the Subcommittee on Digital Assets, Financial Technology, and Inclusion will be held on September 10, focusing on decentralized finance and privacy-preserving technologies.
The government-controlled Securities and Exchanges Commission has been hot on the heels of several crypto projects, including OpenSea and Uniswap.
Ethereum price has been up 2.3% in the last 24 hours, along with the entire market, and it is trading at $2,346. There is decent support, around $2,320, which the price could bounce off of, making it a potential crypto to own ahead of today’s debate and November elections.
Trump (MAGA)
With polls coming in in favor of Donald Trump, MAGA may be one of the few politico tokens to skyrocket if Trump leads in the debate.
There are still concerns about whether Kamala Harris will attend the debate, given the overwhelming polls against her.
JUST IN: Dem pollster’s newest numbers have Donald Trump CRUSHING Kamala Harris nationally, adding another serious blow the the campaign just one day out from the debate.
WILL SHE SHOW UP? pic.twitter.com/kcu128VfFG
— Chuck Callesto (@ChuckCallesto) September 9, 2024
MAGA price is trading at $3.27, down 1.1% over the last 24 hours but up 0.3% in the past week. If Trump wins the debate, MAGA price may surge to $4.00 and potentially extend gains by another 100% to $8.00
The American political landscape has become increasingly crucial for crypto. The outcome of today’s presidential debate will dictate the crypto markets’ direction. These are the cryptocurrencies to own since they might perform well in the event of a Trump win in the debate today.
Frequently Asked Questions (FAQs)
Bitcoin is a "no-brainer" with increasing support, especially from Republicans. Michael Saylor predicted politicians would compete to back Bitcoin, and this is becoming evident in U.S. politics. Republicans are seen as pro-crypto, and Democrats are moving toward the center. Analysts, including Bernstein's Gautam Chhugani, believe Bitcoin could reach $90,000 by year-end if Trump performs well in the debate, further boosting its value.
The U.S. political landscape has become increasingly relevant to the performance of cryptocurrencies. Republicans are seen as more pro-crypto, while Democrats, although initially skeptical, are starting to adopt a more centrist stance. The outcome of significant political events, such as debates or elections, can influence market sentiment, causing price fluctuations in leading cryptocurrencies like Bitcoin, Ethereum, and politically oriented tokens like MAGA.
There are concerns about a potential 0.50% rate cut from the Federal Reserve, which may affect the value of Bitcoin. A rate-cutting cycle, which could begin as early as next week, might raise concerns for Bitcoin investors.
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Evans Karanja
Evans Karanja is a crypto analyst and journalist with a deep focus on blockchain technology, cryptocurrency, and the video gaming industry. His extensive experience includes collaborating with various startups to deliver insightful and high-quality analyses that resonate with their target audiences. As an avid crypto trader and investor, Evans is passionate about the transformative potential of blockchain across diverse sectors. Outside of his professional pursuits, he enjoys playing video games and exploring scenic waterfalls.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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