Bitcoin Predicted to Reach $78,000 by 2024 Following Kamala Harris’ Promise of Crypto Regulation

Crypto businesses have contributed to Harris’s presidential campaign despite the Democrats’ anti-crypto measures in recent years. For instance, Ripple co-founder Chris Larsen donated $1 million in XRP to a Super PAC called Future Forward PAC, marking one of the first major crypto contributions to Harris’s campaign.

Future Forward PAC also accepts crypto donations via Coinbase Commerce, which converts contributions into stablecoins like USDC to minimize volatility.

Looking ahead to the 2024 elections, the cryptocurrency industry could benefit significantly, with Harris and Donald Trump adopting pro-crypto rhetoric. Trump’s campaign has shifted toward a more favorable stance on digital assets, positioning him as a champion of ending the “crackdown” on the crypto industry.

As a result, crypto businesses see potential gains, regardless of which candidate prevails, with both sides promising policies that could create a more favorable climate for cryptocurrency growth in the United States.

Bitcoin Nears Bull Flag Breakout

The weekly Bitcoin chart shows a bull flag pattern, a bullish continuation signal.

After a strong rally in 2024, Bitcoin entered a consolidation phase, forming this descending structure between two parallel trendlines, confirming a bull flag. The setup typically resolves when the price breaks above the upper trendline and rises by as much as the height of the previous uptrend, which is called flagpole.

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