Trump Rally

Republican

Rally

Donald Trump

The cryptocurrency market generally expects a rise in Bitcoin and cryptocurrencies when Donald Trump is elected as the new president of the United States.
However, one analyst warned that Trump's economic policies could harm the Bitcoin and crypto market.
Speaking to DL News, cryptocurrency analyst Noelle Acheson warned that although Donald Trump is pro-cryptocurrency and has officially incorporated this approach into his Republican party, his economic policies could lead to higher inflation, which could harm the crypto market.
Acheson noted that Republican proposals such as tax cuts, tariffs and a weak dollar generally lead to increased inflation.
Although low inflation and low interest rates benefit risky assets like crypto, high inflation can have the opposite effect in the short term. However, Trump's push for a weaker dollar could also create currency turmoil, making Bitcoin and crypto more attractive, according to the analyst.
<blockquote>
 “Lower inflation means lower interest rates, which bodes well for risky assets including crypto. However, some of Trump's economic policies could increase inflation, which would not be good for BTC and crypto.
 But to be fair, Trump's effort to weaken the dollar could also lead to turmoil in the currency, which could make assets like cryptocurrencies more attractive.
 This should be good for BTC because currency turmoil will increase the appeal of Bitcoin, an asset with a hard supply cap that can diversify reserves without being affected by geopolitics.
 This will ultimately affect the Bitcoin price positively.”
</blockquote>
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/while-everyone-expected-a-trump-rally-in-bitcoin-famous-analyst-warned-the-opposite-could-happen-heres-why/" rel="noopener noreferrer nofollow">While Everyone Expected a Trump Rally in Bitcoin, Famous Analyst Warned! "The Opposite Could Happen!" Here's Why!</a>

While Everyone Expected a Trump Rally in Bitcoin, Famous Analyst Warned! "The Opposite Could Happen!" Here's Why!

Bitcoin Sistemi EN

Other articles published on Jul 22, 2024

Pepe Price Prediction: PEPE Soars 28% In A Week, But Investors Are Flocking To This Layer-2 Deriv...

Mt. Bitcoin (BTC) Activity is Experiencing in Gox Wallets! Will New Transfers Come?

Earn $SAND by playing The Sandbox featured experiences of the week

SoMon Becomes Fastest-Growing Web3 Social App with 300,000 Transactions in Two Weeks

Chainlink Aims for $14.6 Breakout; $33 Target

Giant Claim: If Donald Trump is Elected President, This Bitcoin (BTC) Friendly Name May Be the Ne...

Join our free newsletter for daily crypto updates!