Crypto Assets market follows the US election: Harris's rising support rate sparks heated discussion

On the evening of August 14, the Democratic Party in the United States held an online town hall meeting aimed at garnering support from approximately 40 million Crypto Assets holders. However, Vice President Kamala Harris, who was scheduled to attend, unexpectedly missed the event, causing dissatisfaction and questioning among a large audience.

Nevertheless, the likelihood of Harris becoming the next President of the United States is still on the rise. According to a certain data platform, before the event was announced, Harris's winning probability was about 40%; after the news was released on August 8, her winning probability equaled that of Trump for the first time; with the event being held on the 14th, Harris's winning probability further rose to 53%, while Trump stood at 44%.

At the same time, the price of the concept coin related to Harris is also continuously rising. As of the time of writing, the price of the coin has reached $0.0131, an increase of nearly 47% from the low on August 4. In contrast, the Trump-related concept coin has dropped more than 60% from its high a month ago.

So, will Harris really be elected? If she becomes the President of the United States, what impact will it have on the Crypto Assets market? How should Trump turn the situation around?

Harris's Attitude Towards Crypto Assets

Unlike Trump's hostile attitude towards Crypto Assets during his tenure, Harris seems to maintain a neutral and conservative stance towards this emerging field. She has never given enough attention to Crypto Assets and is even perceived by the outside world as "not very interested."

As Vice President of the United States, Harris primarily focuses on traditional macro areas such as economic recovery, COVID-19 response, environmental issues, and racial equality. From her financial disclosures, it appears that Harris and her husband prefer to invest in stable, traditional assets, demonstrating her particular caution when selecting emerging technologies and financial instruments.

Despite having served as a senator and state attorney general in California, and having had interactions with Silicon Valley tech giants, Harris has not translated this into public support or engagement with Crypto Assets. Even during her tenure as vice president, her stance on Crypto Assets has not changed significantly; she has neither participated in nor advocated for any major related policies, nor has she made any official statements supporting or opposing them.

Harris Team's "Surface Work"

To win the election, Harris seems to be making some changes. Her campaign team has recently recruited two advisors with a background in Crypto Assets: David Plouffe and Gene Sperling. Plouffe was a former campaign manager and senior advisor to former U.S. President Obama, and later actively engaged in the Crypto Assets field. Sperling has served on the board of a certain Crypto company and has also held important economic advisory roles in the Clinton and Obama administrations.

However, do these "superficial efforts" truly reflect her change in attitude? The answer appears to be negative. Harris has repeatedly been absent from important Crypto Assets-related events, including the Bitcoin conference at the end of July and the subsequent virtual roundtable held in California, raising widespread doubts in the Crypto Assets industry.

Strict policies may continue

If Harris wins the election, it could have a negative impact on the Crypto Assets market. As a Democratic candidate, she may find it difficult to break the established framework in terms of policy. Although attitudes toward Crypto Assets within the Democratic Party are changing, it remains to be seen whether these changes are sufficient.

Analysis indicates that Harris may continue Biden's hostile policies as she has chosen two officials from the Biden administration who oppose Crypto Assets to join her team. Given Harris's past actions and the long-standing strict policies of the Democratic Party, it is hard to believe she would propose lenient policies.

Trump: The market favors

In contrast, Trump's advantage lies in his consistent encryption-friendly stance. From launching his NFT series, to hosting NFT rights dinners, to attending Bitcoin conferences, Trump's performance is undoubtedly more "sincere".

From the perspective of the Crypto Assets market, whether it is the relatively loose policies during Trump's presidency or the recent surge of concept coins related to Trump, the Crypto Assets market clearly leans towards him. Recently, Trump also held a dialogue event with Musk on social media platforms, further consolidating his support within the Crypto Assets community.

Conclusion

Overall, Harris's attitude towards Crypto Assets seems to be still in exploration. Although she has recently taken some measures to try to bridge the gap with the crypto community, her actions and statements seem to always contradict each other, and her position remains unclear. Whether Harris's leadership can truly bring benefits to the crypto market still needs time to verify. As the election campaign progresses, it may be worthwhile to continue following her movements in this field, as clearer signals may emerge.