After the news that the current United States President Joe Biden was retiring from the presidential race and endorsing his Vice President Kamala Harris to replace him, investors wonder how the political landscape upon her potential victory could affect the price of Bitcoin (BTC).
Indeed, Finbold tasked ChatGPT-4o, one of the most recent models of the OpenAI invention ChatGPT, to provide insights into the possible price range of the flagship decentralized finance (DeFi) asset should Harris, indeed, win the race and become the next US president.
Harris’s views of Bitcoin
Notably, the popular artificial intelligence (AI) platform has analyzed multiple factors that could affect the price of Bitcoin if Harris wins, including her views of the maiden cryptocurrency and the crypto market in general, her relevant actions in the past, as well as the asset’s historical price performance.
Specifically, it has argued that, despite Harris not explicitly stating strong positions on Bitcoin or crypto, her stance might align with the Democratic party’s broader views, advocating for stricter regulation but also the “recognition of the potential blockchain technology to innovate and improve various sectors.”
Furthermore, ChatGPT-4o has noted a slight dip in Bitcoin’s price upon Biden’s endorsement, “reflecting immediate market uncertainty,” and that neither she nor her husband held any digital assets, suggesting a “cautious stance towards crypto, which might lead to a neutral or potentially slightly negative market sentiment.”
“If Harris decides to follow Biden’s relatively cautious approach towards crypto regulation, the market could see restrictive measures that might suppress BTC prices marginally.”
On the other hand, the AI platform has observed that the Republican presidential candidate Donald Trump’s “recent pro-Bitcoin stance has driven positive sentiment in the market, creating a contrasting approach between the two potential candidates.”
Bitcoin price if Harris wins
In this context, ChatGPT-4o has provided several potential price ranges for the largest asset in the crypto sector by market capitalization, including $60,000 – $75,000 in the short-term (1-6 months), $65,000 – $85,000 in the medium-term (6-12 months), and $70,000 – $120,000 in the long-term (1-4 years).
Explaining, the chatbot said its short-term targets consider “initial market reactions and regulatory clarity,” the medium-term prognosis focuses on her “administration’s policies and broader market trends,” with the long-term forecast looking at “a balanced regulatory approach that promotes innovation while ensuring consumer protection.”
Bitcoin price analysis
Meanwhile, Bitcoin was at press time changing hands at the price of $67,290, recording a 0.38% increase in the last 24 hours, an advance of 7.23% across the previous week, and a slightly more modest gain of 4.66% accumulated over the past month, as per data on July 22.
Elsewhere, the incumbent VP’s investments, either made on her own or alongside her husband, Douglas Emhoff, suggest a focus on exchange-traded funds (ETFs), stock market, real estate, bank deposits, and retirement plans, playing a key role in Kamala Harris net worth.
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