2024

Donald Trump

Bitcoin

As the U.S. expectantly waits for the approaching 2024 presidential elections, speculations about the potential impact of Donald Trump on the market are growing. ‘Trump trade’ concept is among these discussions, capturing the attention of crypto traders, investors and enthusiasts alike. The big question on everyone’s mind is: Could Trump’s return to the White House drive <a href="https://coingape.com/price/bitcoin">Bitcoin price</a> to $100,000? 
<h2 id="strong-understanding-the-trump-trade-phenomenon-strong">Understanding the Trump Trade Phenomenon</h2> 
The phrase ‘Trump trade’ describes the market’s expectations of favorable changes in reaction to potential policies by Donald Trump in case of his re-election. Throughout the former U.S president’s time in office, his administration was viewed as more supportive of cryptocurrencies than those who came after him. Many people think that if Trump wins, regulations for Bitcoin and other cryptocurrencies could improve. 
<h2 id="strong-bitcoin-price-recent-struggles-strong">Bitcoin Price Recent Struggles</h2> 
In order to understand the possible consequences of a Trump trade, it is important to analyze the obstacles that Bitcoin has encountered in recent times. Some examples are: 
1. Miners’ Sales Pressure: When Bitcoin price goes up, miners commonly sell some of their coins to meet their operational expenses. This continual selling pressure may hinder any substantial price increase. 
2. Uncertainty in Regulations: Changes in regulations in the U.S. and Germany have led to a climate of uncertainty in the crypto market. Investors are cautious about possible new regulations that could suppress market engagement. 
3. Mountain. Gox Repayments: The repayments from the bankruptcy of <a rel="nofollow" href="https://www.mtgox.com/img/pdf/20240624_announcement_en.pdf" target="_blank">Mt. Gox</a> could also cause some market turmoil When creditors get their hands on Bitcoin and decide to sell it off, the market may experience a notable increase in selling activity. 
4. Selling by Whales: Large holders of Bitcoin, commonly known as whales, are known to sell significant amounts of Bitcoin, causing abrupt decreases in price. These extensive selling activities can induce fear and worsen downward price trends. 
5. German Government Selling: Recently, the <a rel="nofollow" href="https://platform.arkhamintelligence.com/explorer/entity/germany" target="_blank">German</a> government has been offloading large quantities of Bitcoin confiscated in criminal probes. These sales have increased the pressure on selling in the market, further impacting Bitcoin’s struggles with pricing. 
<h2 id="strong-the-optimism-behind-a-trump-victory-strong">The Optimism Behind a Trump Victory</h2> 
Despite these challenges, many analysts maintain a positive outlook on the future of BTC, especially if Trump is re-elected. Here is the reason: 
1. Supportive Cryptocurrency Policies: It is believed that the Trump administration is more inclined to introduce policies that benefit the cryptocurrency market. This may involve more defined regulatory rules, tax breaks, or other measures aimed at promoting investment in digital assets. 
2. Rise in Institutional Interest: A regulatory environment supportive of cryptocurrencies may lure in additional institutional investors to the market. A significant price increase in Bitcoin would result from the heightened interest of big financial institutions. 
3. Market Sentiment: The optimistic attitudes and risky trading frequently influence the fluctuations in Bitcoin price. Anticipating a Trump win may lead to optimism in the market, causing prices to rise as traders prepare for possible changes in policy. 
<h2 id="strong-bitcoin-price-path-to-100-000-strong">Bitcoin Price Path to $100,000</h2> 
Reaching the $100,000 mark is a significant milestone for Bitcoin, and while a Trump re-election could be a positive catalyst, it’s not the only factor at play. Here are some additional elements that could contribute to Bitcoin’s path to $100,000: 
1. Halving Events: <a href="https://coingape.com/halving/bitcoin-halving/">Bitcoin halving</a> takes place every four years, which reduces new Bitcoin supply entering the market. History shows that these events result in higher BTC prices. 
2. Adoption and Innovation: As governments, businesses and individuals continue utilizing Bitcoin, along with technology innovations such as Lightning Network, can fuel long-term growth. 
3. Global Economic Factors: Geopolitical instability, devaluation of currency and inflation are main macroeconomic factors that can impact the price of BTC, as investors search for other options of stores of value. 
<h2 id="strong-current-bitcoin-price-action-strong">Current Bitcoin Price Action</h2> 
<img decoding="async" class="aligncenter size-full wp-image-206238" src="https://coingape.com/wp-content/uploads/2024/07/Screenshot-2024-07-06-110923.png" alt="Current Bitcoin Price Action" width="2080" height="1106" srcset="https://coingape.com/wp-content/uploads/2024/07/Screenshot-2024-07-06-110923.png 2080w, https://coingape.com/wp-content/uploads/2024/07/Screenshot-2024-07-06-110923-300x160.png 300w, https://coingape.com/wp-content/uploads/2024/07/Screenshot-2024-07-06-110923-1224x651.png 1224w, https://coingape.com/wp-content/uploads/2024/07/Screenshot-2024-07-06-110923-768x408.png 768w, https://coingape.com/wp-content/uploads/2024/07/Screenshot-2024-07-06-110923-1536x817.png 1536w, https://coingape.com/wp-content/uploads/2024/07/Screenshot-2024-07-06-110923-2048x1089.png 2048w, https://coingape.com/wp-content/uploads/2024/07/Screenshot-2024-07-06-110923-150x80.png 150w" sizes="(max-width: 2080px) 100vw, 2080px"> 
Bitcoin is showing a recovery as the global crypto market bounces back, increasing by 4.13% over the past day to trade at $56,534.32 today. The market cap of the coin has also risen to $1.11 trillion, with a decreased trading volume to record $39.65 billion over the past 24 hours. 
<h2 id="strong-conclusion-strong">Conclusion</h2> 
The concept of a ‘Trump trade’ highlights the potential impact of political developments on the cryptocurrency market. While Bitcoin currently faces several challenges, the optimism surrounding a Trump re-election provides a compelling narrative for a potential price rally. If Trump’s policies were to create a more favorable market environment, Bitcoin could indeed see significant growth, possibly reaching the $100,000 milestone. 
The post <a href="https://coingape.com/blog/is-trump-trade-a-solution-to-bitcoin-price-path-to-100000/">Is Trump Trade a Solution to Bitcoin Price Path to $100,000?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Is Trump Trade a Solution to Bitcoin Price Path to $100,000?

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