Synopsis
Trump’s perceived support for cryptocurrency has sparked optimism in the crypto community. His administration is anticipated to implement crypto-friendly policies, which could involve creating a national Bitcoin reserve and adopting a more favorable regulatory framework.
As President-elect Donald Trump prepares to assume office in five days, the cryptocurrency market is experiencing significant activity. Bitcoin recently reached a historic high of $108,200 in December, though it has since consolidated as investors took profits.
Trump’s perceived pro-crypto stance has generated optimism within the crypto community. His administration is expected to introduce crypto-friendly policies, potentially including the establishment of a national Bitcoin reserve and a more favorable regulatory environment.
The market is also anticipating the approval of major altcoin ETFs under the new SEC leadership, which could benefit top altcoins like Ripple (XRP), Solana (SOL), and Dogecoin (DOGE). These altcoins have already seen substantial gains, with XRP and DOGE recording over 200% returns in the last three months.
Crypto Tracker
TOP COIN SETSCrypto Blue Chip – 52.87% BuyBTC 50 :: ETH 500.78% BuyWeb3 Tracker-0.16% BuyDeFi Tracker-0.84% BuyAI Tracker-3.58% BuyTOP COINS (₹) XRP244 (11.49%)BuyBitcoin8,391,107 (2.26%)BuyEthereum278,559 (1.73%)BuyBNB60,442 (1.08%)BuyTether86 (0.1%)BuyIn the short term, heightened speculation and potential price fluctuations are likely. To navigate this, investors should stay informed, proactive, and maintain a long-term perspective, focusing on assets with clear utility, strong communities, and visionary leadership.
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.
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Vugar Usi Zade, COO at Bitget
Trump’s pro-crypto stance, including proposals for a national Bitcoin reserve and a more favorable regulatory environment, could significantly impact market sentiment and drive Bitcoin to new heights. However, investors must closely monitor regulatory developments, particularly changes in SEC leadership and potential tax reforms.
Pankaj Balani, Co-founder & CEO of Delta Exchange
Markets will be keenly watching Trump’s administration post-inauguration. Creation of SBR will be a key milestone for crypto markets, indicating the start of the race by sovereigns to acquire BTC. However, the market is currently giving a low probability to this event, with Polymarket indicating less than 30% probability.
Balaji Srihari, Vice President at CoinSwitch
The re-election of Donald Trump has sparked renewed optimism within the crypto community due to his perceived pro-crypto stance. However, any significant political change, whether positive or negative, can introduce market volatility, making it essential for investors to remain cautious.
Edul Patel, Co-founder & CEO of Mudrex
Trump’s re-election as the U.S. president led to an impressive rally in the crypto market, with Bitcoin reaching a historic high of $108,200 back in December before consolidating as investors booked profits. With just a week to go before the big day, staying informed and ready to capitalize on opportunities is key for investors as the crypto market gears up for its next big move.
Shivam Thakral, CEO of BuyUcoin
Trump’s pro-crypto stance is expected to lead to a more favorable regulatory environment, possibly reversing previous constraints and fostering innovation within the industry. Investors should prioritise understanding the implications of upcoming regulatory shifts, as these could reshape market dynamics and enhance institutional participation in cryptocurrencies.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
