6 months ago
President-elect Donald Trump lauded Bitcoin’s (BTC) record-breaking ascent past $100,000, congratulated Bitcoin investors connected his Truth Social platform, and attributed the milestone to his influence.
Trump declared that Bitcoin investors are “welcome,” framing the surge arsenic a testament to his pro-growth policies. He said:
“CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!! Together, we volition Make America Great Again!”
Following the US predetermination results connected Nov. 6, Bitcoin experienced a bid of all-time highs, culminating successful a historical all-time precocious of $104,611 connected Dec. 4. However, arsenic of property time, the flagship crypto was trading astir $98,300 pursuing a retracement.
Over this period, BTC delivered a staggering 36% return, with marketplace sentiment buoyed by what galore traders and analysts dubbed the “Trump trade.”
Trump trade
Bitcoin’s rally gained traction successful aboriginal October aft a play of prolonged stagnation, driven by speculation surrounding the election’s outcome. Traders and investors began pouring into hazard assets, including Bitcoin and US equities, anticipating that a Trump triumph would catalyze a terms surge.
This pre-election momentum pushed BTC prices up 20% successful conscionable a month. Market analysts responded by revising their forecasts, aligning concern strategies with the bullish sentiment spurred by Trump’s governmental comeback.
Standard Chartered’s planetary caput of integer assets research, Geoffrey Kendrick, said investors should bargain Bitcoin’s dip astatine $60,000 connected Oct. 3, citing Trump’s imaginable triumph arsenic a pivotal factor. Kendrick’s telephone coincided with increasing marketplace assurance successful a pro-crypto administration.
VanEck’s head of integer plus research, Matthew Sigel, echoed this optimism, raising the firm’s terms people for Bitcoin to $180,000 during the existent bull cycle. Sigel attributed his bullish outlook to a operation of organization request and the governmental tailwinds from Trump’s predetermination victory.
Meanwhile, Bitwise CIO Matthew Hougan described Trump’s presidency arsenic heralding a “Golden Age of Crypto.” In a memo released aft the election, Hougan suggested that Trump’s medication could usher successful greater regulatory clarity for the US crypto market.
Hougan emphasized that Bitcoin’s fundamentals entering 2024 were already robust, bolstered by organization request pursuing the support of spot Bitcoin ETFs successful the US and the expanding adoption of real-world usage cases.
However, helium noted that a pro-crypto authorities could amplify these gains, providing the last propulsion to cement Bitcoin’s presumption arsenic a mainstream plus class.
The station Trump celebrates Bitcoin surpassing $100k milestone pursuing predetermination win appeared archetypal connected CryptoSlate.
English (US) 