With just a week left until Donald Trump takes office as the 47th President of the United States, people involved in the cryptocurrency market are keeping a close eye on events unfolding.
As the January 20th date approaches in seven days, both investors and analysts are preparing themselves for the potential effects when Donald Trump resumes his role as President.
Has the Market Already Priced in Trump’s Victory?
In the world of cryptocurrencies, there’s curiosity about whether the market has factored in Bitcoin‘s potential success into its current values, meaning that any predictions or assumptions about Bitcoin’s victory are already reflected in its present-day price.
According to analysts such as Dan Gambardello and Hoeem, the current market doesn’t fully reflect the impact of Donald Trump’s presidency. This implies that there could be potential increases in the cryptocurrency market following Trump’s inauguration.
According to Gambardello’s post on X, many people believe that the support for cryptocurrency by a hypothetical pro-crypto Trump presidency and governments buying Bitcoin has already been factored into current prices. However, he asserts that this is far from being the case.
Crypto analyst Hoeem expressed a widely shared viewpoint by stating that “the market has yet to reflect Donald Trump’s inauguration.
Trump is likely to retreat from policies that harm the crypto market, while he will aggressively support measures that benefit it. From the very beginning, Trump has been eager to see the value of cryptocurrencies continue to rise, not only because of his ties to the market but also for personal reasons.” (Hoeem stated this.)
It seems that the conventional financial markets are showing signs of readiness to take advantage of a potential crypto market surge during Trump’s presidency.
Based on findings from a Bitwise survey, it was reported that approximately 56% of financial advisors admitted that Donald Trump’s election win prompted them to consider cryptocurrency investments more favorably. Interestingly, among the existing crypto investors, a staggering 99% have expressed intentions to either keep or boost their crypto holdings by the year 2025.
Caution vs. Optimism: Crypto Market Prepares for Trump
As people anticipate a potential market surge following Donald Trump’s inauguration on January 20, others advise exercising prudence.
As a crypto investor, I’ve been keeping a close eye on President Trump’s campaign promises regarding digital assets. However, according to the New York Digital Investment Group (NYDIG), it might take some time before we see these promises materialize. The reason being, key government positions are still unfilled, and without a clear team in place, changes to crypto policy may not happen right after the inauguration. So, I’m advising patience and vigilance as we navigate this exciting but uncertain landscape of crypto investment.
As an analyst, I’d like to express a word of caution regarding immediate changes. You see, some key figures are yet to be appointed, and even those who have already been named require confirmation before taking office. Once they’re confirmed, they will then proceed to build their respective teams.
Moreover, it remains unclear who will lead organizations such as the Commodity Futures Trading Commission (CFTC), the Office of the Comptroller of the Currency (OCC), and the Federal Deposit Insurance Corporation (FDIC). However, NYDIG anticipates that these individuals will be supportive of Bitcoin and cryptocurrencies.
In his past term as president, Trump’s economic policies had a substantial impact on various financial sectors, such as cryptocurrencies. His administration tended to adopt a somewhat unclear regulatory approach, which added to the instability or fluctuations observed in the crypto market.
After Trump publicly expressed his backing for cryptocurrencies, it will be interesting to observe how quickly his pledges materialize. As the inauguration approaches, the crypto enthusiasts are maintaining a mix of caution and optimism.
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2025-01-13 19:28