Analysts at the cryptocurrency exchange Bitfinex have expressed their views on whether the outcome of the US presidential debate between Joe Biden and Donald Trump on the 27th of October will have a significant impact on the price of Bitcoin (BTC).
They believe that Bitcoin is unlikely to be drastically affected, but the broader market of cryptocurrencies and tokens related to the presidential candidates, called PolitiFi tokens by analysts, may experience some short-term fluctuations.
The exchange claims that both Biden and Trump have well-documented positions on cryptocurrencies and financial regulations. Additionally, they believe that the market has already priced in their views, so any repetition of already shared information during the debate is unlikely to cause new volatility.
It is important to note, however, that according to analysts, there may still be significant movement in PolitiFi tokens during and after the debate depending on the candidates’ performances, as these tokens themselves have become speculative.
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While cryptocurrency regulatory frameworks may be mentioned during the debates, the specifics usually emerge from detailed political messages and legislative processes. Therefore, it is unlikely that substantial discussions regarding cryptocurrency regulation in the US will directly result from the debates.
