Is the Crypto Ecosystem Strengthening Because of Donald Trump’s Win?
Explore how Donald Trump’s 2024 election win is boosting the crypto ecosystem. Learn about Bitcoin’s price surge, altcoins’ growth, and Trump’s crypto-friendly policies that could shape the market’s future. Stay updated on the latest crypto trends and predictions!
Donald Trump was declared superior to Kamala Harris in the 2024 US Election held on November 5. Trump received 50.9% of the vote while Kamala only received 47.6% with Trump’s voter area being much more dominant.
This victory is good news for the crypto ecosystem. Evidently, due to Donald Trump’s superiority, the price of crypto tokens has skyrocketed and even made Bitcoin a new ATH.
Check out the detailed explanation of the crypto ecosystem which has strengthened again due to Donald Trump’s victory in the 2024 US Election.
Bitcoin Predicted to Hit $100,000 in Q! 2025
After yesterday BTC recorded a price of more than $75,000, today the price of Bitcoin even touched $76,391 its highest price in 24 hours. When this article was written on November 7, BTC was trading at $75,216 with an increase of 3.05%. This price is of course very amazing and has only happened during this US election period.
You can see from the screenshot of the Bitrue price chart above. The BTC RSI value is at 71.74, which means the buying trend is still strong like yesterday, but if it is higher, it will be overbought.
The Bitcoin MACD indicator also shows a bullish trend that could continue to climb along with Donald Trump’s victory celebration. Because of these very positive BTC indicators, many crypto observers say that BTC could touch a price of $ 100,000 in Q1 2025.
As reported from TradingView, Bitcoin’s current dominance is at 60.05%, which is much higher than BTC’s dominance on normal days which is only in the 50s.
Crypto is Greening
The crypto ecosystem has still green since yesterday. Not only Bitcoin, but various Altcoins to memecoins have also experienced significant increases.
Ethereum continues to strengthen its price at $2,821 with an increase of more than 8%. In fact, in 24 hours, ETH touched a price of $2,878. And just like BTC, Ethereum’s RSI value is also very high at almost 80 with a MACD line that has jumped significantly, indicating that ETH’s bullishness is happening and will be more positive in the future.
SOL is also no different. The SOL MACD line indicates a positive bullishness. No mistake, SOL’s price also touched its highest price at $191.90 in the last 24 hours.
Why Crypto Ecosystem Supports Donald Trump
Donald Trump has indeed attracted the sympathy of crypto investors. This is because, during the campaign, Donald Trump seemed serious about supporting this ecosystem. Trump was also recorded as stating 11 points to support crypto:
1. Fire SEC Chairman Gary Gensler on Day 1
2. Establish a “National Bitcoin Stockpile”
3. Make the United States the “Bitcoin and cryptocurrency capital of the world”
4. Retain 100% of the 203,650 BTC$BTC ($14.95B) currently held by the U.S. government
5. Eliminate capital gains tax on Bitcoin
6. Support U.S. Bitcoin mining
7. End regulatory crackdowns (the “anti-crypto crusade”)
8. Launch a “Bitcoin and crypto presidential advisory council”
9. Protect individuals’ rights to self-custody digital assets
10. No CBDC
11. Commute Ross Ulbricht’s double-life sentence, the founder of Silk Road.
Conclusion
Will the crypto ecosystem strengthen in the future during Donald Trump’s leadership in the United States? Will Trump’s promise to make crypto regulations easier and more protected as Trump mentioned during the campaign?
To find out, you can access the Bitrue website. There, you will find out all the updates about the crypto ecosystem in real-time wherever you are.
This press release has also been published on VRITIMES
