There are positive developments for cryptocurrencies in the country, which is the largest economy of the USA. However, some indicators point to a lack of excitement among US investors. Changes in the cryptocurrency market before the presidential elections increased expectations on Trump’s potential policies.
Executive Order Expectations
President-elect Donald Trump may issue an executive order that would make cryptocurrencies a national priority, Bloomberg reports. The order could also include the creation of an advisory board that would advocate for the political goals of digital assets by giving the cryptocurrency industry a voice.
Crypto Industry Reaction
Trump has moved away from his negative stance towards cryptocurrencies before the election and embraced the industry. This situation increased the expectation that regulations would become easier and digital assets would become widespread. The crypto industry is hopeful that the Trump administration, which is scheduled to begin on January 20, will fulfill its promises.
Decline in Bitcoin Prices
Bitcoin on Coinbase exchange $99,128.5is trading at a slight discount to global exchange Binance. This may indicate a decrease in demand in the USA. The rise of Bitcoin in November and December was realized with the contribution of US investors, but a similar increase cannot be observed recently.
Bitcoin’s trading on the Nasdaq-listed Coinbase exchange is at a discount compared to Binance. This difference indicates a decrease in interest from US investors in the leading cryptocurrency. Whether Trump will keep his promises in the coming period may affect demand in the US market.
Bitcoin is trading at $101,600 as of press time. Since mid-December, prices have generally hovered between $90,000 and $108,000. This shows that stability has been achieved in the crypto market.
These developments in the cryptocurrency market are an important indicator for investors who are eagerly waiting to see what impact the Trump administration’s policies will have on the industry.
Fluctuations in the crypto market and Trump’s potential policies are among the factors that investors should follow closely.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
