Midterm election day has arrived in the USA: What awaits crypto?

With the Iran war, the increase in oil prices, the US debt exceeding 40 trillion dollars, tariffs and geopolitical tensions, the US public will perhaps grade Trump's performance in his first 2 years for the first time today. Two years ago, Trump became president of the United States, and the Republican Party, for which he was a candidate, won the majority in both the Senate and the House of Representatives. However, these 2 years were not good for both the USA and the world! Today, American voters will evaluate these two years of Trump for the first time.

Democrats are ahead in the polls...

Data and surveys from US-based research companies show that the Democratic Party is close to gaining the upper hand in both wings. Modeling expert Nate Silver, who analyzes surveys conducted by large companies, stated in his latest report that the Democrats have a very strong chance of winning back the Senate. NBC News, on the other hand, predicts that the latest data will give 47 seats to Democrats and 44 seats to Republicans in the Senate.

According to Fox News, the giant media organization known for its closeness to Republicans; Across the US, 54% of voters plan to vote for Democrats and 45% plan to vote for Republicans.

According to YouGov, a major international public opinion research company, Democrats are ahead 50% to 41%.

Only 35 seats in the Senate!

Approximately 1/3 of the 100 seats in the Senate will be renewed in this election. In the House of Representatives, all 435 seats will be re-elected. As it is known, senators in the USA are elected every 6 years. Therefore, a certain number of seats are up for election every two years. Since the term of office of the members of the parliament is 2 years, the entire parliament competes for seats in every by-election.

Currently, 53 of the 100 seats in the Senate belong to Republicans and 47 to Democrats. In the Assembly, 219 seats belong to Republicans and 214 seats to Democrats. 2 chairs are independent…

What is its significance for crypto?

The by-election may also have important consequences for cryptocurrency markets. It is known that there are serious differences of opinion between Republicans and Democrats regarding crypto regulations. This may affect the pace of progress of relevant laws and rules post-election.

Trump's meme impressed coins!

The Trump administration's supportive approach towards cryptocurrencies has been an important factor for the markets for 2 years. Although there are crypto supporters among the Democrats, Trump's issuing of meme coins for himself and his wife, and his family's launch of organizations such as World Liberty Financial, attracted great reaction from both the crypto world and the Democrats.

As you may remember, the Democrats did not give even a single "Yes" vote regarding the Clarity Act and the law could not be passed by the Senate. The biggest reason here was shown to be Trump's attitudes and the loss of over 90% of investors in the meme coins issued.

Here, Republicans regaining control of both houses of Congress could make it easier for the administration to pass new crypto regulations it supports. If the Democrats gain the majority, it will mean more objections and a longer process.

For all these reasons, if the Democrats prevail in the election, it may initially lead to a certain decrease in the price of Bitcoin.