Crypto Crash: Would Harris Have Saved Bitcoin, Ethereum, XRP?

Ladies and gentlemen, buckle up! We're diving headfirst into the wild world of cryptocurrency, where the market has been on a rollercoaster ride since the start of 2025. Bitcoin, Ethereum, XRP—you name it, they've all taken a nosedive. But here's the million-dollar question: Would a President Harris have been the crypto savior we needed? Let's break it down!



First things first, let's talk about the elephant in the room: regulatory pressure. Under President Trump, the crypto world has been a minefield of uncertainty. The SEC has been cracking down on digital assets left and right, treating them like securities rather than the innovative technologies they are. This has created a climate of fear and doubt, driving prices down and investors away.

Now, imagine if Kamala Harris had been in the Oval Office. According to Alex Thorn, head of research at Galaxy Digital, Harris's approach would have been less detrimental compared to the Biden administration, but still cautious toward digital assets. She might have introduced milder regulatory stances, addressing some of the industry’s concerns, particularly regarding access to banking services. This could have provided a more stable environment for major cryptocurrencies like Bitcoin, Ethereum, and XRP.

But here's the kicker: Harris's campaign rhetoric exhibits a stark aversion to tax cuts, specifically those aimed at wealthier individuals. This raises concerns among crypto advocates who often favor tax incentives for budding technologies. In contrast, Trump is perceived as a strong proponent of measures that would promote tax clarity for digital assets. His historical actions reveal a commitment to fostering an environment conducive to investment in the crypto sector, unlike Harris’s more cautious trajectory.



Let's talk about Bitcoin mining. Harris’s position translates to moderately better conditions than those under Biden, yet it remains hostile overall. Trump’s broader acceptance of Bitcoin mining—viewing it as integral to domestic manufacturing—presents a favorable outlook for miners, suggesting that his governance would likely prioritize the growth of this segment of the industry. This could have had a significant impact on the performance of Bitcoin, as mining operations are a crucial part of its ecosystem.

Banking access remains a pivotal talking point in crypto regulation, and here, Harris and Trump represent two markedly different philosophies. Reports indicate that Harris may revisit some aspects of the Biden administration’s “Operation Chokepoint 2.0,” aimed at curbing cryptocurrency’s integration with traditional banking systems. While her intentions appear somewhat accommodating, Trump’s approach seems resolutely in favor of dismantling obstacles that currently impede banks from engaging with blockchain technologies. This could have had a direct impact on the liquidity and accessibility of major cryptocurrencies like Ethereum and XRP, which rely heavily on traditional banking systems for transactions and exchanges.

So, what's the bottom line? A Harris presidency might have provided a more stable regulatory environment, leading to a more sustainable bull run in the long term. But with Trump's pro-crypto influence, we saw an early rally that has since fizzled out. The market is now trending downward, with a full retrace of the rally possible. The initial Trump-driven boost was a one-time event—from here, market movements will depend on policy negotiations and settlements.

In conclusion, the crypto world is a complex beast, and the regulatory environment under a Harris presidency would have been different from the current administration. While a Harris administration might have introduced milder regulatory stances, the lack of an early blow-off top in equities could provide a stronger base for a later crypto surge, ultimately setting up a more sustainable bull run. So, would a President Harris have been better for crypto? The answer is not black and white, but one thing is for sure: the crypto market is a wild ride, and you need to be ready for anything!