It is highly likely that the markets will be influenced by the upcoming election and national debates for the United States presidency. This is especially the case given current US president Donald Trump’s strong aversion to Bitcoin and the cryptocurrency industry. Joel Edgerton, CEO of cryptocurrency exchange bitFlyer, commented on this, saying that the cryptocurrency market might be in for major volatility:

“The price movement is mainly driven by institutional business with retail customers continuing to buy the dips and accumulate assets. A key point to watch is the possible effect of the US election and if that changes the Fed’s response from its current very accommodative stance to a more normal stance.”