Analysts from the cryptocurrency exchange Bitfinex have expressed their views on whether the outcome of the US presidential debate between Joe Biden and Donald Trump on September 27th will significantly impact the price of Bitcoin (BTC).
They find it difficult to predict the exact impact on Bitcoin, but believe that the broader market will be severely affected. Tokens associated with the presidential candidates (referred to as PolitiFi tokens by the analysts) may experience some short-term volatility.
The exchange states that both Biden and Trump have clear stances on cryptocurrencies and financial regulation. Furthermore, they believe that the market has already digested their views, so any repetition of information shared during the debate is unlikely to trigger new waves of volatility.
It is worth noting, according to the analysts, that based on the candidates’ performances, significant fluctuations in PolitiFi tokens may still occur during and after the debate, as these tokens themselves have become speculative.
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Although cryptocurrency regulation frameworks may be mentioned during the debate, specific details usually come from detailed policy announcements and legislative procedures. Therefore, substantive discussions on US cryptocurrency regulation are unlikely to directly result from the debate.
