A potential Trump administration is unlikely to deliberately push for a devaluation of the dollar, as articulated by economic advisor Scott Bessent in a recent interview with Financial Times. Bessent emphasized that Trump's policies are expected to support a strong dollar, consistent with decades of U.S. monetary policy.

With the upcoming Election Day on November 5, Vice President Kamala Harris faces competition from Trump, who is seen favorably in prediction markets for his pro-crypto stance alongside Senator JD Vance.

On inflation, Bessent noted that while Trump's proposed tariffs on imports might initially seem extreme, they will likely be moderated in negotiations with other countries.

“The reserve currency can fluctuate based on the market. If we maintain sound economic policies, a strong dollar will naturally follow,” Bessent remarked, reflecting his cautious optimism about the Trump presidency's impact on the economy.

Overall, the expectation is for a resilient dollar under Trump, which may have mixed effects on the cryptocurrency market.