With the conclusion of the election result, crypto experts, traders, and analysts keep guessing how the new government will affect crypto.
Major Updates
- Notable crypto experts are happy about trump's loss
- The cryptocurrency community hope that Biden will be crypto bullish
- Essential positions in Biden's administration to be held by crypto enthusiasts
Crypto enthusiasts across social media platforms conclude that a president that keeps quiet about digital currencies is better than the one that belittles and downgrades it.
Qiao Wang, a Defi alliance member, hailed trump's loss, stating that the president had always talked against BTC and Libra.
There have been reports in the past stating that a Biden administration will improve markets and note that it could also affect crypto due to increased dollar strength.
It was also pointed out that the president's appointees would matter more than his take on some issues. According to reports, the former Commodity Future Trading Commission chairman (CFTC) Gary Gensler, a bitcoin supporter, would be among Biden's transition team.
Reports also show that the former FED governor, Lael Brainard, who once led a group to explore CBDCs, is a strong candidate for treasury secretary.
For all the speculations, the US stock market will open on Monday and give a clearer view of speculators.
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