After underperforming Bitcoin for much of the year, smaller cryptocurrencies such as Dogecoin (Doge) and Solana (Solana) may end up facing the biggest risks after the US Presidential Election. Bitcoin rose 4.6% at one point to $70,165 on Tuesday, about 5% below the record high of around $73,800 set in March. The largest cryptocurrency by market capitalization has risen more than 65% this year. Dogecoin rose as much as 17% on Tuesday, in part due to longtime Dogecoin supporter Elon Musk saying that if Donald Trump wins the election, the Department of Government Effectiveness (D.O.G.E.) will be established. " For bitcoin, the US election doesn't matter much, "said Zaheer Ebtikar, founder of cryptocurrency fund Split Capital." For altcoins, if Kamala Harris wins, they may not rally as much. They are the biggest winners or losers of this election. "