Trump took office as the 47th US President and there were no fireworks in cryptocurrencies. Trump appears to have done more harm than good, drawing volume from altcoins by releasing his own meme coin hours before his inauguration. So what happens now? What awaits cryptocurrency investors?
Trump and Cryptocurrencies
Until mid-2021, Elon Musk was like a hero for cryptocurrencies. Its Bitcoin $101,713.0 Its acquisition and push up the markets also occurred simultaneously with the GameStop incident. Musk loves to have fun, and his fun paved the way for a new all-time record for cryptocurrencies. Until China laid the groundwork for its bans by saying that Bitcoin miners were harming the environment.
Will Trump write a similar story? The stagnation of the rise after his inauguration seems like similar scenarios. But we can say that it is not, at least when we look at it under today’s conditions, it is different.
cryptocurrencies It was not among Trump’s top priorities and he has not included it much in his speeches so far. However, this alone is not enough to reach a conclusion. The same Trump appointed crypto-friendly names to head many ministries and institutions. Again, the same Trump is personally involved in 2 and 3 different cryptocurrency projects, if he includes his wife’s.
What to Expect with Trump in Cryptocurrencies
First of all, the urgent steps that needed to be taken were taken. What was done? The SEC has created its own crypto team. For years at the beginning crypto- There is Peirce, whom we know with his friendly explanations. Hester Peirce He was a Republican who always said that the SEC was negatively discriminating against cryptocurrencies, and even though he was a member of the commission, he voiced his objections loudly.
Well SEC on the side cryptocurrencies Work started in the first week on supporting arrangements for the So what’s the other important detail? Crypto-friendly commissioner Mark Uyeda was appointed interim chairman until Paul Atkins is confirmed. This is great too.
But there is more. We are now sure that the cryptocurrencies seized in Silkroad or other events will not be sold today. Trump clearly said that these sales will no longer occur. Investors who were worried that billions of dollars of supply would overwhelm the markets can now breathe easy.
More importantly, any development in an environment where regulatory pressure is eliminated and supply pressure concerns are weakened will be positive for crypto. Suitable infrastructure for banks to enter the crypto business, Strategic Bitcoin Reserve, new SEC administration altcoin ETF approvals, the end of non-fraud cases in crypto, and dozens more are our upcoming big bullish headlines. Cryptocurrencies are entering a new era of news filled with major triggers that could be major price catalysts.
Of course, unless Trump suddenly sells Silkroad assets saying we need money and turns all optimism upside down. Can Trump do this when he has taken such big steps for crypto at an early stage and cares about it?
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
