Kamala Harris and Donald Trump meet for the first time tonight in a crucial presidential debate. Harris is under pressure to prove her presidential stature, while Trump seeks to refine his attack strategy.
The economy will be a central topic, with Trump focusing on his pro-crypto policy and tax reduction, while Harris proposes a redistributive approach and remains vague on her crypto positions.
This debate could influence the crypto markets, with possible volatility if Trump is perceived as the winner, while a Harris victory could lead to a drop in Bitcoin prices.
As the 2024 American presidential race reaches a crucial moment, Kamala Harris and Donald Trump are set to meet for the first time in a highly anticipated presidential debate within the crypto community.
This face-off, taking place tonight in Philadelphia, is a turning point in an extremely close election campaign. Harris, who took the lead of the Democratic ticket in July after Joe Biden’s decision not to seek a second term, has succeeded in giving new momentum to her party, although the gap with Trump has narrowed in recent polls.
This event could redefine the dynamics of the presidential race. Here are the key points to watch for during this confrontation.
Who will project the most presidential image?
At the time of writing this article, Polymarket’s bettors are betting on Kamala Harris ‘winning’ this debate according to the polls.
The stakes are high for both candidates, but Kamala Harris is under particular pressure. Trump is a well-known figure to voters, while Harris is still shaping her image on the national stage. The debate rules, similar to those of previous presidential confrontations, will allow each candidate to speak uninterrupted through the use of muted microphones. Questions will be posed by ABC presenters Linsey Davis and David Muir, with a structured format: two minutes to respond, two minutes for a rebuttal, and one minute for a final observation.
While Harris will have to address Trump’s direct attacks, she will also have to prove that she has the necessary stature for the role of president. This first direct confrontation is an opportunity for her to defend her political positions and counter her opponent’s criticisms, offering her first real opportunity against Trump.
Trump: an attacker in search of strategy
One of the big questions in this debate will be how Donald Trump chooses to attack Kamala Harris. So far, he has struggled to define a clear line of attack against her. In the absence of new tactics, Trump could continue to use personal attacks, such as questioning Harris’ racial identity or referring to her as ‘Kamala the laugher’. However, these attacks have not yet shown notable effectiveness among voters.
For Trump, this debate is an opportunity to focus his attacks on specific points, especially by positioning himself as the candidate of experience. ‘Trump needs 90 well-used minutes to target Harris,’ notes Republican strategist Kevin Madden, ‘and this could be more effective than any 30-second advertisement.’
Harris’ prosecutor past: a weapon against Trump
Kamala Harris’ experience as Attorney General of California could play a central role in her strategy for this debate. She has not hesitated to attack Trump on his legal entanglements in her public appearances, emphasizing that she knows the ‘type of man’ Trump is and that she has spent her career pursuing ‘predators’ and ‘fraudsters’. These attacks could have a considerable impact, especially now that the former president is involved in several legal cases.
Trump, on the other hand, may attempt to deflect this attack by calling it radical and highlighting the criticisms she has received as a prosecutor, where she has sometimes been accused of weakness in certain criminal cases.
An economy in debate
The debate on the economy will be crucial, as it remains the primary concern of American voters. The two candidates have radically different visions on how to revive the American economy.
Trump, faithful to his ‘America First’ strategy, wishes to reduce taxes, continue deregulation, and impose higher import tariffs. Additionally, he relies on the support of private sector figures like Elon Musk to revitalize energy production and streamline government bureaucracy.
He has positioned himself largely as the pro-crypto candidate, promising to make the United States the global capital of cryptocurrencies.
Harris, on the other hand, relies on a redistributive approach, with tax increases for the wealthy and large corporations to fund social programs. She also seeks to tackle rising prices by penalizing companies engaged in excessive profit margins.
While directly tied to the current administration (mostly seen as hostile to cryptocurrencies), Harris has not displayed a clear position on crypto regulation. The former prosecutor has reportedly been reaching out to platforms and industry players to secure voters.
The challenge for Harris will be to convince voters that her approach is both effective and realistic, as despite the recent decrease in inflation, Trump continues to accuse the Biden-Harris administration of causing the rise in the cost of living.
A decisive debate for the crypto market
The crypto markets have stabilized after a recent decline, but implicit volatility remains high approaching the debate. A ‘victory’ by Trump in the debate could fuel optimism and allow the recent rally to continue.
In the case that Kamala Harris prevails decisively, the reaction of Bitcoin and the overall crypto market could be worrisome, potentially leading to a drop just days after it crossed $55,000.
