Bitcoin touches $66k as US Election now set up as bullish event

Today, Monday, Oct. 14, Bitcoin touched $66,000 as US markets opened, up over 5% on the day, as both major U.S. presidential candidates have now made official crypto endorsements.

Vice President Kamala Harris announced plans to establish a regulatory framework for digital assets beneficial to everyday citizens holding crypto. The framework aims to protect Black men investing in crypto and promote economic inclusion.

Former President Donald Trump’s support for Bitcoin and the broader crypto industry has been well documented since the start of the year when he announced that he could now “live with” the technology. Since then, he has increased his support, pledging to make the United States the “world capital of crypto and Bitcoin.”

Both candidates publicly releasing pro-crypto policies is a historic moment for the industry. Harris’s focus on regulatory clarity and consumer protection contrasts with Trump’s commitments to bolster the industry’s growth and infrastructure.

However, never before have both major candidates signaled positive sentiment toward the crypto industry, indicating that whoever wins next month’s election should be a positive step forward for the sector.

Bitcoin’s next target is $66,894, which it will need to push past to solidify the upward movement based on historical trading channels seen throughout 2024.

Analyst

Liam 'Akiba' Wright

Senior Editor at CryptoSlate

Also known as "Akiba," Liam is a reporter, editor and podcast producer at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.

@akibablade LinkedIn Email Liam

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