Bitcoin on US election day 2016 
$69,625Anyone who deposited $1,000 into saw it grow to over $10,000 by the end of the following year. This shows how the crypto world can be tightly linked to elections and gives a hint of what could happen this election cycle.
2024 US Election Could Trigger New Crypto Bull Run
US election days have had a major impact on financial markets in the past, and cryptocurrencies are also becoming increasingly sensitive to political dynamics. Election results tend to lead to rapid and volatile reactions in markets; this year’s 2024 race shows signs of similar trends.
Historically, major cryptocurrencies have experienced significant market cap increases following elections. Bitcoin and Ethereum after the 2016 and 2020 elections 
$2,503entered into major bull runs that started quickly and lasted for about a year.
Trump and Harris Have Different Approaches to Crypto
At the center of the 2024 US elections are the presidential candidates’ sharply different views on cryptocurrencies. Former President Donald Trump stands out as the strongest advocate of digital assets and has pledged to make the United States the “crypto capital of the world.”
Former President Donald Trump: “We will make the USA the crypto capital of the world.”
Vice President Kamala Harris takes a different approach. While the Harris administration has not expressed a clear view on cryptocurrencies, it is open to collaborating with technology industry leaders and supports blockchain innovation.
Vice President Kamala Harris: “We are open to supporting the development of these technologies.”
Bitcoin and Ethereum Stand Out in the Fluctuations Caused by Elections
Bitcoin and Ethereum are at the center of crypto market growth. Today, the total market value of these two major currencies has reached 2.31 trillion dollars. The crypto market future is not just limited to Bitcoin and Ethereum; Altcoins such as XRP and DOGE also have significant upward potential.
The arrival of a new president could reduce uncertainties in the market, which could lead to a post-election surge in cryptocurrencies. However, cryptocurrencies still remain volatile and large fluctuations occur frequently.
Ahead of the 2024 election, investors may remain volatile in crypto markets in response to poll results and campaign news. Economic factors such as inflation and interest rates also play an important role in shaping the future of cryptocurrencies.
Regardless of the outcome of the election, the influence and adoption of cryptocurrencies will be on a continuous upward trend in the long term.
The main factors that can affect the crypto markets include government policies, regulations and the global economic situation. It is important for investors to follow the market closely and make informed decisions.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
