Gate Research: Donald Trump's Victory - Crypto on the Rise

11/22/2024, 10:46:13 AM
Download the Full Report (PDF)
This paper explores Trump’s 2024 victory and its impact on the crypto market. His pro-crypto policies, Bitcoin ETF approval, and institutional support have driven price surges. Promises to ban CBDCs, support Bitcoin mining, and lower taxes position him as the first pro-crypto president, with Bitcoin projected to hit $100K by 2024’s end.

Key Takeaways

Widespread Crypto Ownership: Over 20% of Americans now own cryptocurrencies, underscoring the substantial influence of digital assets on the 2024 U.S. presidential election.

Bitcoin ETF Approval Boost: The approval of the Bitcoin Spot ETF has significantly heightened public interest and institutional engagement in the cryptocurrency market.

Trump-Bitcoin Correlation: Donald Trump’s victory has exhibited a strong positive correlation with Bitcoin’s price movements, attributed to his pro-crypto stance and campaign promises.

First Pro-Crypto President: Trump’s pledges, including banning CBDCs and supporting Bitcoin mining, make him the first openly pro-crypto president in U.S. history.

Economic Policies Favoring Bitcoin: Trump’s proposed lower tax rates and tariff policies are expected to create an inflationary environment, potentially driving Bitcoin prices higher as a hedge against fiat devaluation.

Institutional Inflows and Sentiment Shift: Consecutive net inflows into Bitcoin ETFs and reduced short positions in CME Bitcoin futures highlight growing institutional confidence post-election.

Analyst Projections: Market experts and on-chain data suggest Bitcoin could reach $100,000 by the end of 2024, driven by favorable macroeconomic and regulatory conditions.

Historical and Geopolitical Context: The interplay of historical election cycles, Bitcoin halving events, and global economic uncertainties further supports the argument for a sustained bull market in crypto assets.

(Click below to access the full report)



Gate Research
Gate Research is a comprehensive blockchain and crypto research platform that provides readers with in-depth content, including technical analysis, hot insights, market reviews, industry research, trend forecasts, and macroeconomic policy analysis.

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Author: Elven
Translator: Sonia
Reviewer(s): Addie、Edward、Wayne
Translation Reviewer(s): Ashely、Joyce
* The information is not intended to be and does not constitute financial advice or any other recommendation of any sort offered or endorsed by Gate.
* This article may not be reproduced, transmitted or copied without referencing Gate. Contravention is an infringement of Copyright Act and may be subject to legal action.

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