The US elections include some differences compared to other countries. In the elections held every 2 years, American citizens elect the president during a presidential election, while in the other election they elect local politicians. As you know, Donald Trump was elected president of the United States in November 2016 presidential elections. In the elections to be held on November 6, 2018, we will witness the election process in which new leaders will be elected by the US House of Representatives, Senate, governorates and many other states and local authorities.
How does the selection process affect BTC and altcoin prices?
Given that this interim election will be a warm competition between Republicans and Democrats, we can assume that each party will be motivated to allocate time and time to vote from the work and daily activities of the electorate. Assuming that the majority of the American crypto traders will vote, we can get a little perspective on how these democratic rights can affect the daily volume of trade on November 6.
Probably American Krypto traders will renounce trading activities in the process of voting. This means that many will close their long and short positions on leading stock markets such as Coinbase, Binance, Bitfinex.
Due to a small number of trading positions in the stock markets, the situation has already been expressed by the CEO of Bittex in terms of trade volume. In a recent commentary, he predicted that the bear market could continue for 12 to 18 months due to low trade volume.
What does the BTC and crypto industry expect after the US elections?
Considering that many officials can change seats in the interim elections this year, American voters may have new leaders who are pro-Krypto money and Blockchain or against them. Therefore, it seems possible to assume that there will be a wind of change in local authorities such as Congress, Senate and governorships. All of these leaders are those who can have a say in the regulatory decisions of the United States regarding Krypto money and Blockchain technology.
The impact of U.S. elections on the Krypto trade is likely to be already limited and negligible in the low-volume advancing market. However, possible leadership changes in local authorities and congressional and Senate areas may have a significant impact on the regulation of the crypto sector.