Analysis: The outlook for regulation of the cryptocurrency industry in the United States is expected to improve after the November elections, boosting Bitcoin prices

Bitcoin outperformed stocks and gold this month, as more signs indicate that the outlook for U.S. regulation of the cryptocurrency industry will improve after the upcoming presidential election. Bitcoin rose 4% in October, surpassing global stock indices and gold so far this month.

Noelle Acheson, author of "Crypto Is Macro Now" newsletter said: "This rise is mainly driven by the U.S. presidential election, initially from Trump's leading position in prediction markets and opinion polls, followed by semi-supportive statements about the crypto market from Harris' campaign team. I haven't seen details of Harris' cryptocurrency policy yet, but it doesn't sound as negative as Biden's administration."