- Trump celebrated Bitcoin’s $100k milestone, attributing the surge to his influence on crypto policies
- Analysts predict a potential slowdown in Bitcoin’s rally after Trump’s inauguration in January 2025
As a seasoned crypto investor with a keen eye for market trends and a knack for recognizing political undercurrents, I find myself both exhilarated and cautious about Bitcoin’s recent surge past $100k. Trump’s victory lap was certainly an unexpected, yet welcomed, development in the crypto world. However, I can’t help but remember the old adage: “What goes up must come down.
The extraordinary leap of Bitcoin (BTC) surpassing the $100,000 threshold has ignited jubilation throughout the cryptocurrency sector. This excitement was not limited to enthusiasts alone; even skeptics found themselves acknowledging this remarkable milestone.
On December 5th, President-elect Donald Trump stepped into the limelight, celebrating his victory while claiming credit for Bitcoin’s unprecedented price surge due to his perceived impact.
Trump on Bitcoin hitting a new milestone
In a post on the Truth Social platform, Trump expressed his excitement and said,
“CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!!”
He added,
“Together, we will Make America Great Again!”
Without a doubt, during his 2024 election campaign, Trump pledged multiple commitments geared towards reshaping the U.S.’s cryptocurrency environment.
His strong support for cryptocurrency sparked enthusiasm within the community, as numerous members eagerly awaited Bitcoin’s potential increase to reach $100,000.
On the 5th of December, Bitcoin astonishingly reached and even exceeded a significant threshold, momentarily peaking at approximately $102K.
Nevertheless, the enthusiasm was somewhat dampened when the cryptocurrency encountered a decline. Currently, its value stands at $97,900.96, representing a -2% decrease over the past day.
Trump’s standing by his words to make U.S crypto-friendly
Furthermore, consistent with his supportive stance towards cryptocurrencies, Trump had earlier declared his intention to dismiss SEC Chairman Gary Gensler. Lately, events appear to underscore his determination to redefine American crypto regulations.
Trump chose Paul Atkins, a well-known cryptocurrency supporter and previous SEC Commissioner during President George W. Bush’s term, for the position as the new chairman of the Securities and Exchange Commission (SEC).
Moreover, the President has taken a daring step by designating David Sacks, a former COO of PayPal, as the “AI and Cryptocurrency Advisor,” which suggests a major change in the nation’s stance on digital currencies.
Consequently, Trump’s behavior clearly illustrates his dedication to keeping his pro-cryptocurrency pledges, suggesting a movement toward a more welcoming U.S. climate for digital currencies.
As the 2024 election approaches, some experts foresee a possible deceleration in market growth.
Indeed, past patterns, as supported by data from Bloomberg and Macrobond Financial, hint that American markets, such as Bitcoin, frequently experience a rise in the aftermath of presidential elections. However, this upward momentum generally subsides when the newly inaugurated president takes office.
Given these circumstances, it’s natural to wonder if there will be a significant drop in Bitcoin prices after Donald Trump’s inauguration on 20th January 2025.
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2024-12-07 08:39