Industry experts believe that Bitcoin will thrive in the long term, regardless of who wins the US presidential election in November, despite the growing partisan sentiment in the cryptocurrency industry.

Steven Lubka of Swan Bitcoin stated that Bitcoin's price is almost certain to reach six figures by 2025, regardless of who wins the November election. He added, "Bitcoin has always been an investment rooted more in the state of the global, sovereign, and US fiscal and monetary condition, and neither candidate changes that."

James Davies of Crypto Valley Exchange believes that even if Harris becomes president, it won't significantly impact Bitcoin's price. While crypto startups might face more challenges, the industry will continue to push forward and flourish.

Lubka agrees, saying that some observers "overestimate the risk of Harris being president," as the cryptocurrency industry faced hostility during the Biden administration. However, he added, "All indications we see with Harris as president point to a down-grading of the crypto talk that we saw under Biden."

"The election outcome has little impact on Bitcoin’s performance over the next 12 to 18 months," said Tyrone Ross, founder and CEO of registered investment advisor 401 Financial. "We still have numerous companies doing business through the ETF channels, interest rates are going down, and retail trading by centralized custodial institutions are low. It will certainly be tougher for younger startups, but as a developing institutional-grade, high-quality asset, it will continue to prove itself no matter who is in charge."

Daniel Cawrey, chief strategy officer of crypto wallet operator Tonkeeper, said the crypto market could see a short-term surge or a muted response based on the final winner in November, but regardless, the crypto market has been performing well in this election season.

After hitting a record high of $73,000 in March, Bitcoin has traded between $55,000 and $70,000 for most of 2024. Investors generally expect Bitcoin to remain subdued until US voters decide on the next president. However, recent election news has had a smaller impact on Bitcoin's price, which is more influenced by macroeconomic developments. (CNBC)