• Industry experts weigh in on the state of crypto-post election.
• The total crypto market cap has risen by 1.5% over the past day.

‘Uptober’ delivered on its promises, now it is time for ‘Moonvember.’ With just eight days in, Bitcoin [BTC] and the broader cryptocurrency market have seen massive gains, boosted by post-election momentum. 

Following Donald Trump’s victory in the U.S. elections, Bitcoin reached an ATH of over $76,000. Meanwhile, other top cryptocurrencies mirrored its bullish trajectory. 

But how did the Republican Party’s victory in the U.S. election trigger this rise, and what lies ahead?

America’s road to innovation 

Matthew Sigel, Head of Digital Assets Research at VanEck, shared his insights with Nate Geraci, on the latest episode of CryptoPrimePod. 

He pointed to the GOP’s victory as a potential pivot toward a more crypto-friendly regulatory landscape. Sigel remarked,

“It’s sad for America to kind of lose our lead in innovation, so I think that’s going to change.” 

The exec criticized the SEC’s unfairness of penalizing individuals under unclear rules, calling for an end to proactive lawsuits and a focus on credible fraud investigations. He also cited Gary Gensler’s failure to adhere to the traditional rulemaking process as a significant issue.

Sigel called for reforms to modernize financial regulations. These include updating outdated transaction thresholds to reflect inflation and reducing regulatory overreach.

Reasons behind regulatory pushback 

Sigel noted that the Democratic administration’s March 2022 executive order pushed federal agencies to prioritize enforcement over innovation. This led to intense scrutiny.

Thus, the rapid capital formation within crypto, where a meme can become money, posed a challenge to maintaining economic control and micromanagement, the exec explained.

In addition, Sigel emphasized that crypto disrupts the status quo, challenging traditional financial intermediaries and the dominance of fiat currency, stating,

“Bitcoin is maybe the biggest threat to the dollar.” 

A new era of crypto post-election?

Meanwhile, Haseeb Qureshi, Managing Partner at Dragonfly, highlighted the broad implications of the election outcome. In an interview with Scott Melker, he stated,

“The doors have been swung open and they’re going to stay open for crypto for the foreseeable future.” 

The exec predicted that the Republican support would likely fuel a pro-crypto movement in the U.S.

Qureshi also pointed to a significant shift in political alignment, underscoring the renewed bipartisan support for digital assets.

Despite the optimism, he emphasized that the extent and pace of regulatory changes remain uncertain, as agency leadership and key legislative outcomes are still pending.

Retail poised to ignite altcoin surge

Qureshi also forecasted an upcoming retail resurgence. While institutional investments have primarily driven Bitcoin’s success, he foresees a retail-driven altcoin rally on the horizon. 

Despite a minor uptick in retail participation in March, the exec noted, a full retail-fueled liquidity cycle has yet to unfold. He anticipates that if retail investors re-engage, it could fuel an explosive rally in altcoins.

As November unfolds, the crypto market watches closely, to see if Moonvember will bring unprecedented growth and solidify a new era of confidence.