Bitcoin Price Forecast: Could 2024 U.S. Election Trigger a Major BTC Rally?

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Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...

Bitcoin (BTC) extended its bullish rally, surpassing the $63,000 mark as the global crypto market cap reached $2.24 trillion, reflecting a nearly 1.50% gain in the last 24 hours. This bullish rally was driven by the Federal Reserve’s recent rate cut.

Investor sentiment was further bolstered by Kamala Harris’s pledge to support AI and digital assets during a Wall Street fundraiser. As the U.S. elections approach, this momentum could propel Bitcoin to even greater heights.

Kamala Harris has recently expressed public support for cryptocurrency and artificial intelligence (AI) during her presidential campaign.

She emphasized the importance of fostering innovation while ensuring clear regulations to protect consumers and investors.

Our first Crypto Commander in Chief will be @realDonaldTrump.

Comrade Kamala Harris can't be trusted to support the strong and growing digital economy. pic.twitter.com/ogSsvburyD

This marks her first official endorsement of digital assets, signalling a potential shift from the current administration’s approach, which has been seen as more hostile towards the crypto industry.

Harris’ stance has gained positive responses from key figures in the crypto community, who see her policies as more favorable to the growth of digital assets compared to President Biden’s.

Kamala Harris says at a fundraiser on Wall Street:

I "will encourage innovative technologies like AI and digital assets while protecting our consumers and investors." pic.twitter.com/w1OuVP7sbO

Besides that, a report from VanEck suggests that