Potential Impact of Donald Trump Presidency on Bitcoin (BTC)
As the US presidential election nears, crypto traders and analysts speculate a Donald Trump victory could significantly boost Bitcoin, per the Financial Times.
Despite post-Halving rally hopes, Bitcoin faces challenges since April—US and German asset sales and a $9 billion Mt Gox overhang. Market talk centers on a potential “Trump trade” lifting Bitcoin later in 2024.
Post-Halving in April, Bitcoin fell 20% in a month amid factors like $15 billion in governmental sales and hedge funds dampening volatility. Traders seek a catalyst for Bitcoin’s next move up.
Trump’s viewed as crypto-friendly, with optimism growing about his victory benefiting the industry and regulations. Analysts suggest Trump’s energy policies could aid crypto mining. Concerns linger over Biden’s past crypto tax proposals.
ПРОЧЕТИ ОЩЕ:
Crypto Analyst Forecasts Bitcoin Breakout Before Year-EndPotential Trump policies—higher US deficit, tariffs, and tax cuts—could raise inflation and Treasury yields, influencing Bitcoin as a hedge, notes Standard Chartered’s Geoff Kendrick.
Impact of a “Trump trade” on Bitcoin hinges on Trump’s election rival. RealClearPolitics Betting puts Trump at 55%, Biden at 16.5%. Biden staying could boost Bitcoin bulls; a new contender may stymie gains. Narratives and perceptions drive market sentiment, potentially bolstering Bitcoin on belief in a Trump win.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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