1. Bitcoin has been doing just fine under Biden, going up 500% while he was president. Although there are tiny numbers of people (e.g. certain crypto businesses and brokers) that have been negatively effected by current US policy, the market overall for Bitcoin is essentially 100% free and open to any investor who wants to bet on Bitcoin here.
He was elected when we are about to start the bull run, so it make sense that the price will have to pump. Of course, market is free, but it will be good and open wide if he was very friendly to it. However, they have a hard line stance specially in the last 2 years.
And I would assume that you have heard about,
Operation Choke Point 2.0: How U.S. Regulators Fight Bitcoin With Financial Censorship2. It's clear that
US laws won't significantly change under Trump in a way that will pump Bitcoin's price. Bitcoin is 100% legal in the US and anybody here who wants to can buy and sell it. Hence the only imaginable new laws would have to involve
forcing people to buy Bitcoin, which is very unlikely under Trump or any other US president (forcing people to buy Trump's coin, on the other hand, might be something he will try to do
).
But you have to admit though that the price did pump after Trump winning the Presidency. I will agree though that his government will not force the Americans to buy Bitcoin or crypto. That is not the point of being crypto friendly, the point is that somewhat Bitcoiners can freely buy in any crypto exchanges.
3. Trump's policies involve a lot of new risk to the US economy. Trump has promised two gigantic changes to the US economy: massive import tariffs that will trigger a worldwide trade war, and the deportation of 20 million US residents, millions of whom work in key labor markets. Although it remains to be seen if Trump will actually implement these promises (the markets right now are betting he won't), this certainly adds risk that was not there under Biden.
Every administration has his own policy, and it's very controversial changes in the US economy. But let's see how it goes for him. There is already risk as the US is still trying to recover and every country for that matter. But as President, he will do anything in his power to chance the US.