BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
FOLLOW
BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
BlockNews

Altcoins Will Likely Rally Harder Than Bitcoin After the 2024 Election, Here is Why

by Sham
October 30, 2024
in Crypto, Opinion
A A
Altcoins Will Likely Rally Harder Than Bitcoin After the 2024 Election, Here is Why
2
SHARES
Share on TwitterShare on Reddit
  • Post-election regulatory environment is more important for Ethereum and other altcoins than Bitcoin, according to Bitwise CIO Matt Hougan.
  • A Donald Trump win would be more impactful for Ethereum and altcoins as it could provide greater regulatory clarity, driving institutional adoption.
  • Bitcoin already has more regulatory clarity, with the SEC and CFTC declaring it a commodity and the embrace of spot bitcoin ETFs.

The 2024 US presidential election is just days away, and Bitcoin’s price has been approaching new all-time highs. This momentum is partly driven by the election, and many are speculating how the results could impact the cryptocurrency market.

JUST IN: Bitwise CIO @Matt_Hougan states Bitcoin $BTC is going above $100,000 regardless of the 2024 presidential winner, but it would be faster under Donald Trump pic.twitter.com/uZKGaMvmET

— BlockNews.com (@blocknewsdotcom) October 30, 2024

Bitwise’s Predictions

According to Bitwise CIO Matt Hougan, a Trump victory would likely have more of an impact on Ethereum and altcoins than Bitcoin. Hougan believes Bitcoin already has solid regulatory clarity and embrace from institutions, so it will continue rising either way. However, increased regulatory clarity under Trump could particularly benefit Ethereum and smaller cap coins.

Current Polling

Most national polls still show a close race between Trump and Harris. However, prediction markets like Polymarket have shown Trump’s odds rising to around 70%, his highest yet. A Republican sweep of the presidency, Senate and House could pave the way for crypto-friendly legislation.

Regulatory Differences

Hougan explained that the major altcoins have more regulatory uncertainty than Bitcoin, which has already been declared a commodity by the SEC and CFTC. Under a Republican administration, Hougan predicts the SEC will provide more guidance that drives institutional adoption of Ethereum and altcoins.

Bitcoin’s Path Forward

While increased regulatory clarity would help, Hougan emphasized Bitcoin can succeed without support from politicians. He believes Bitcoin will continue its momentum in 2025 and beyond, with Democrats likely taking a neutral stance on the industry if they sweep Congress.

In summary, Bitwise believes the post-election regulatory environment will have an outsized impact on Ethereum and smaller cap altcoins. However, the firm remains bullish on Bitcoin’s future regardless of who wins the 2024 election.

Tags: all-time highsBitcoin's priceBitwiseMatt HouganUS presidential election
Tweet1ShareShare1

DON'T MISS THESE! HOT OFF THE PRESS

Bitcoin Nears $120K Prompting Apology from Top Analyst: Here is Their New Price Prediction
Bitcoin

Bitcoin Nears $120K Prompting Apology from Top Analyst: Here is Their New Price Prediction

May 8, 2025
Trump Blasts Fed Chair Powell as ‘FOOL’ Over Rate Decision: Is He Right?
Finance

Trump Blasts Fed Chair Powell as ‘FOOL’ Over Rate Decision: Is He Right?

May 8, 2025
Ethereum ETH Breaks $2,000: Here is The Next Price Level You Need to Watch
Crypto

Ethereum ETH Breaks $2,000: Here is The Next Price Level You Need to Watch

May 8, 2025
JRNY CLUB Announces $JRNY Token and EARN Platform
Breaking News

JRNY CLUB Announces $JRNY Token and EARN Platform

May 7, 2025
Everything You Need to Know About Doodles Upcoming DOOD Token
Crypto

Everything You Need to Know About Doodles Upcoming DOOD Token

May 7, 2025
Federal Reserve Holds Steady as Trump Tariffs Threaten Economic Stability: The Hard Truth Exposed
Finance

Federal Reserve Holds Steady as Trump Tariffs Threaten Economic Stability: The Hard Truth Exposed

May 7, 2025
Load More

Related News

Trump Blasts Fed Chair Powell as ‘FOOL’ Over Rate Decision: Is He Right?

Trump Blasts Fed Chair Powell as ‘FOOL’ Over Rate Decision: Is He Right?

May 8, 2025
Ethereum ETH Breaks $2,000: Here is The Next Price Level You Need to Watch

Ethereum ETH Breaks $2,000: Here is The Next Price Level You Need to Watch

May 8, 2025
JRNY CLUB Announces $JRNY Token and EARN Platform

JRNY CLUB Announces $JRNY Token and EARN Platform

May 7, 2025
Everything You Need to Know About Doodles Upcoming DOOD Token

Everything You Need to Know About Doodles Upcoming DOOD Token

May 7, 2025
Federal Reserve Holds Steady as Trump Tariffs Threaten Economic Stability: The Hard Truth Exposed

Federal Reserve Holds Steady as Trump Tariffs Threaten Economic Stability: The Hard Truth Exposed

May 7, 2025
Discord Twitter Youtube TikTok Instagram

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Newsletter
  • Advertise
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano China Coinbase crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX Gary Gensler grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology twitter US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • Home
  • Crypto
  • Memecoins
  • Technology
  • Politics
  • Finance
  • NFT
  • DeFi
  • Opinion

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.