Mark Cuban Predicts Bitcoin Surge Amid Trump Support in Silicon Valley

Jating

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Quote from: Catenaccio on July 18, 2024, 04:34:49 AM

Trump or not Trump, Trump or Biden or anyone else, it's not important. Bitcoin market has another more important thing than Trump or Biden, it's Bitcoin block subsidy halving that happened in April this year.

https://www.bitcoinblockhalf.com/

Quote

Past halving event dates

The first halving event occurred on the 28th of November, 2012 (UTC) at block height 210,000
The second halving event occurred on the 9th of July, 2016 (UTC) at block height 420,000
The third halving event occurred on the 11th of May, 2020 (UTC) at block height 630,000
The fourth halving event occurred on the 20th of April, 2024 (UTC) at block height 840,000

History of Bitcoin gives me strong belief in historic rhythm that forces me to believe that Bitcoin will make a good bull run in 2024 and 2025 before it enters another bear market. I see the 2024 and 2025 bull run will give a less parabolic bullish curve but we will still have it, just smaller in ROI.

I have similar reasons to ignore Mark Cuban.

It could be true, but you have to look as well that post-halving, there will someone that will speak well about Bitcoin, and then we will see some surge in the price. Haven't you forget Musk in 2020? So we can't really ignore this personalities when they go on public and says something positive about Bitcoin. And now, we have Trump gunning for office this November and having him and his party including cryptos in their platform and agenda.

And as much as we don't want or ignore it, Trump's winning will be a big factor. And that's why Biden and his party is trying to stop it, when he steps down and then put forward Harris to go against Trump this election to cut at least his lead. So it will be good to see and comforting for Bitcoin enthusiast to see a US President that is pro-crypto in my opinion.

sana54210

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Quote from: jaberwock on July 21, 2024, 01:21:04 AM

Quote from: Dave1 on July 18, 2024, 04:05:40 AM

Quote from: Zlantann on July 18, 2024, 03:38:31 AM

I suspect that Trump's support for Bitcoin is for his selfish interest, I doubt if he has any interest in the coin. We have been brainwashed that he has changed his views about the coin, but how many Bitcoins has he bought since he changed his perspective? He said he would never own Bitcoin and his stance has not changed.

Well people stance change right? It might be good for Trump to make a U-turn, doesn't matter though if he has bought or what, the thing is that he could really be the turning point in this bull run.

Plus, it is not really about his stance being selfish or not, it is about the fact that does it help us or not?
And if his stance on bitcoin helps us, then who cares if he bought any bitcoins or not. Imagine seeing bitcoin being very lovely on the law, like they make some changes that helps everyone, would it really matter that we would be able to see him not buy any bitcoins?

I think that won't matter at all and it wouldn't be a situation. I think the best way to do anything about this would be just realizing that things aren't always that crazy, and can't be done in a way where we have to put them all on detail.

I mean it is the easiest thing in the world to make Trump think something different and make him like something, it is literally the most simplistic way of egotistical person, so it is not really that complicated.

Hell, you can make him stop being a republican, and start being democrat, it's all very simple and straightforward. What do you need to do? You need to make him sure that if he just does something, all these new people will love him like crazy, that's it. Back in the day he was a liberal, but he saw that Obama was democrat, and mocked him, so democrats mocked him, so he became republican.

Same goes for crypto, when he doesn't like crypto, nobody liked him, if there were millions of people who liked him because he disliked crypto, that would have worked. But he saw that he didn't get any love, and that dude runs on love, so he decided to love crypto, and a lot of people loved him in return, because of this he started to love crypto even more. Tell him that hugging a cactus would make him loved, and when he actually does hug a cactus, millions of people pour to streets to show him love... that dude will go around hugging a cactus all his life. Just show him love for doing something and he will do it forever.

pooya87

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Quote from: Zlantann on July 18, 2024, 03:38:31 AM

I suspect that Trump's support for Bitcoin is for his selfish interest, I doubt if he has any interest in the coin. We have been brainwashed that he has changed his views about the coin, but how many Bitcoins has he bought since he changed his perspective? He said he would never own Bitcoin and his stance has not changed.

Another thing to consider is that even if he were honest, it still wouldn't matter because as an individual he could have a different opinion about bitcoin compared to as the president. Because as a president he won't be able to change the invasive and restrictive US policies toward Bitcoin. At the end of the day they will continue pushing for more regulations, restrictions and continue shutting down anything they can not control like mixers and decentralized exchanges.

EluguHcman

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Quote from: pooya87 on July 17, 2024, 11:57:17 PM

Quote from: paraggik on July 17, 2024, 04:58:18 PM

He highlighted the possibility of Bitcoin becoming a global safe haven amid geopolitical uncertainty and the declining dominance of the US dollar as the world’s reserve currency.

It's an interesting view.

The world is dedollarising, deglobalising and also deamericanising all of which will continue to weaken the dollar. With Trump and his radical moves (such as the Tariff wars he'll start) the dollar will get even weaker as the countries will speed up dedollarising and the small number of countries that were uncertain to this day would join the dedollarisation wagon which would weaken the dollar even more.

All that can help boost bitcoin price by a lot over the long run not just some silly short lived surges when the market reacts emotionally to some news about candidates.

Well said and in anticipation, a maximum utilization of the USD as a global reserved currency has been unable to be achieved to secure values as the US also embattle with economic outbreaks where the USD timely looses its values.
But it has been of faith that the global influence of Crypto has made Bitcoin a storage of that value which the USD could not uphold such valuable potentials as Bitcoin.

Hence Bitcoin is attributed to unified global currency with its varieties of values, it becomes a depreciation to the USD and a lost of pride to the US as far as Bitcoin is a decentralized and self-custodial currency.

tabas

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I remember that it was under his wing when they talked about the Dallas Mavericks accepting payment in Dogecoin for their stuff, tickets, and merchandise. There's also a partnership with the Dallas Mavericks at BitPay or they've chosen it as a third-party provider for their customers that will pay in crypto for their products. And this is one of the many reasons why he's talking cute about bitcoin. But I think that he should have talked more about it during his podcasts and interviews. Anyway, he talks about the SV support for Trump but that support won't just be support if there's no price reaction for Bitcoin and I'm having hard time contemplating about it on how it became connected though.

davis196

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Quote

Cuban emphasized that the potential for Bitcoin’s price is far greater than most people anticipate. He highlighted the possibility of Bitcoin becoming a global safe haven amid geopolitical uncertainty and the declining dominance of the US dollar as the world’s reserve currency.

1.Safe heaven assets usually don't have big price volatility.
2.The geopolitical uncertainty could boost the BTC price, but it could also crash the BTC price. The geopolitical situation is always a double edged sword for the economy and finance. Bitcoin isn't protected from such problems.
3.The Silicon Valley will always be left wing. Their support for Trump would most likely be temporary. I also think that the "Big Tech" support for Trump has nothing to do with Bitcoin and crypto in general and it won't affect the BTC price.
4.Trump is a well known liar. His support for BTC/crypto might turn into hostility after he becomes president.

jaberwock

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Quote from: Dave1 on July 18, 2024, 04:05:40 AM

Quote from: Zlantann on July 18, 2024, 03:38:31 AM

I suspect that Trump's support for Bitcoin is for his selfish interest, I doubt if he has any interest in the coin. We have been brainwashed that he has changed his views about the coin, but how many Bitcoins has he bought since he changed his perspective? He said he would never own Bitcoin and his stance has not changed.

Well people stance change right? It might be good for Trump to make a U-turn, doesn't matter though if he has bought or what, the thing is that he could really be the turning point in this bull run.

Plus, it is not really about his stance being selfish or not, it is about the fact that does it help us or not?
And if his stance on bitcoin helps us, then who cares if he bought any bitcoins or not. Imagine seeing bitcoin being very lovely on the law, like they make some changes that helps everyone, would it really matter that we would be able to see him not buy any bitcoins?

I think that won't matter at all and it wouldn't be a situation. I think the best way to do anything about this would be just realizing that things aren't always that crazy, and can't be done in a way where we have to put them all on detail.

philipma1957

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Well Trump is looking like a winner. If he wins we will see what he does to hurt or help BTC and Crypto.

Just remember in 2017 he ended all like kind exchanges in the USA except real estate. (note: for no tax event purposes)

and BTC tanked in 2018 so he passed the law that killed the 2017 fall rally.

Fact check = True

Btc price was close to 20k in dec 2017 it fell once this was passed

el kaka22

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Quote from: STT on July 18, 2024, 06:22:38 AM

USD has undermined itself over decades is probably the largest factor and its not face value that has to be worried about but the underlying value and liabilities in dollar denomination.

This is an economics consideration more then speculation. The US Dollar index or DXY is a political instrument, the central banks have no desire to rise in strength vs dollar and lose any advantage in their export trade with the worlds richest nation.

FIAT has a facade to it, some of what Cuban mentions is what happens when the facade falls off and all you have left is what's underneath. In short, the natural dynamics in economics are likely to overwhelm this currently overly politicized arrangement to currency and trade.

BTC is likely to break upwards at some time, not a revolutionary thought. At present the 50 day average is falling still, I think a move is most likely when multiple positives are aligned with momentum.

Cuban is a smart guy, he isn't just saying bitcoin itself is the way to get rich, he is saying that because all around the world nations are having chaos rain down upon them, even the ones who are calm right now are looking ways to protect their assets in case anything happens in the future. This is why he thinks that bitcoin will be fine, think about how much important bitcoin could be for someone who would put all their assets there and then something happens in their nation.

Obviously, Trump is the "right" choice if we are talking about crypto stand point, doesn't mean Trump is the right choice overall, everyone could have their own opinion on that topic, but when it comes to crypto, he literally picked VP with bitcoin investment, that should be clear enough to see how much he likes it.

This means that Cuban's point is that, for the future of crypto, something like this was needed, and the potential for bitcoins growth is unlimited. One day, we could have bitcoin marketcap be bigger than gold, we could have one million per bitcoin, wouldn't be impossible. However, we need to realize that "I put in 10k, now I have 1 million" type of investment ideas behind, that is not going to happen anymore.

STT

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USD has undermined itself over decades is probably the largest factor and its not face value that has to be worried about but the underlying value and liabilities in dollar denomination.

This is an economics consideration more then speculation. The US Dollar index or DXY is a political instrument, the central banks have no desire to rise in strength vs dollar and lose any advantage in their export trade with the worlds richest nation.

FIAT has a facade to it, some of what Cuban mentions is what happens when the facade falls off and all you have left is what's underneath. In short, the natural dynamics in economics are likely to overwhelm this currently overly politicized arrangement to currency and trade.

BTC is likely to break upwards at some time, not a revolutionary thought. At present the 50 day average is falling still, I think a move is most likely when multiple positives are aligned with momentum.

kryptqnick

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Okay, once again, the USD dominance is NOT declining. It's a statement people often make, perhaps as a result of effective disinformation by BRICS. Or, rather, it is somewhat declining, but by way less than 1% per year, and the current dominance is at 58.41%, with the closest currencies being EUR (20%), Japanese yen (5.7%), GBP (nearly 5%).
So there's no real undermining of the USD for now, unless the situation changes drastically in 2024. I'm all for positive pro-Bitcoin views, but they need to be well-grounded to make sense and be realistic.

Catenaccio

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Trump or not Trump, Trump or Biden or anyone else, it's not important. Bitcoin market has another more important thing than Trump or Biden, it's Bitcoin block subsidy halving that happened in April this year.

https://www.bitcoinblockhalf.com/

Quote

Past halving event dates

The first halving event occurred on the 28th of November, 2012 (UTC) at block height 210,000
The second halving event occurred on the 9th of July, 2016 (UTC) at block height 420,000
The third halving event occurred on the 11th of May, 2020 (UTC) at block height 630,000
The fourth halving event occurred on the 20th of April, 2024 (UTC) at block height 840,000

History of Bitcoin gives me strong belief in historic rhythm that forces me to believe that Bitcoin will make a good bull run in 2024 and 2025 before it enters another bear market. I see the 2024 and 2025 bull run will give a less parabolic bullish curve but we will still have it, just smaller in ROI.

I have similar reasons to ignore Mark Cuban.

Dave1

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Quote from: Zlantann on July 18, 2024, 03:38:31 AM

Quote from: pooya87 on July 17, 2024, 11:57:17 PM

Quote from: paraggik on July 17, 2024, 04:58:18 PM

He highlighted the possibility of Bitcoin becoming a global safe haven amid geopolitical uncertainty and the declining dominance of the US dollar as the world’s reserve currency.

It's an interesting view.

The world is dedollarising, deglobalising and also deamericanising all of which will continue to weaken the dollar. With Trump and his radical moves (such as the Tariff wars he'll start) the dollar will get even weaker as the countries will speed up dedollarising and the small number of countries that were uncertain to this day would join the dedollarisation wagon which would weaken the dollar even more.

All that can help boost bitcoin price by a lot over the long run not just some silly short lived surges when the market reacts emotionally to some news about candidates.

I suspect that Trump's support for Bitcoin is for his selfish interest, I doubt if he has any interest in the coin. We have been brainwashed that he has changed his views about the coin, but how many Bitcoins has he bought since he changed his perspective? He said he would never own Bitcoin and his stance has not changed.

Well people stance change right? It might be good for Trump to make a U-turn, doesn't matter though if he has bought or what, the thing is that he could really be the turning point in this bull run.

Quote from: Zlantann on July 18, 2024, 03:38:31 AM

The world is gradually moving away from the dollar and every US President will do everything possible to protect the dollar. If Mark Cuban thinks that Bitcoin will replace the dollar as the world’s reserve currency, then we should be ready for more stringent anti-bitcoin policies if Trump wins the elections. He would use all the powers at his disposal to ensure that Bitcoin never strives in the US. Trump is the most selfless and greedy US president, who doesn't care about the impact of his policies on non-US citizens. He would jealousy-defend the dollar. Nevertheless, nothing in life is permanent, the dollar will not be a dominant currency forever.

He could just emphasized that Bitcoin could be another alternative as a reserved asset, we have seen El Salvador, or Germany but they dump it. I'm not going to side to anyone, but I think we should refrain ourselves just to be contrarian on everything about the US and Bitcoin and Crypto. It has proven itself to be a good safe haven when we have the pandemic 4 years ago, and that is already a good case for Bitcoin already.

Zlantann

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Quote from: pooya87 on July 17, 2024, 11:57:17 PM

Quote from: paraggik on July 17, 2024, 04:58:18 PM

He highlighted the possibility of Bitcoin becoming a global safe haven amid geopolitical uncertainty and the declining dominance of the US dollar as the world’s reserve currency.

It's an interesting view.

The world is dedollarising, deglobalising and also deamericanising all of which will continue to weaken the dollar. With Trump and his radical moves (such as the Tariff wars he'll start) the dollar will get even weaker as the countries will speed up dedollarising and the small number of countries that were uncertain to this day would join the dedollarisation wagon which would weaken the dollar even more.

All that can help boost bitcoin price by a lot over the long run not just some silly short lived surges when the market reacts emotionally to some news about candidates.

I suspect that Trump's support for Bitcoin is for his selfish interest, I doubt if he has any interest in the coin. We have been brainwashed that he has changed his views about the coin, but how many Bitcoins has he bought since he changed his perspective? He said he would never own Bitcoin and his stance has not changed.

The world is gradually moving away from the dollar and every US President will do everything possible to protect the dollar. If Mark Cuban thinks that Bitcoin will replace the dollar as the world’s reserve currency, then we should be ready for more stringent anti-bitcoin policies if Trump wins the elections. He would use all the powers at his disposal to ensure that Bitcoin never strives in the US. Trump is the most selfless and greedy US president, who doesn't care about the impact of his policies on non-US citizens. He would jealousy-defend the dollar. Nevertheless, nothing in life is permanent, the dollar will not be a dominant currency forever.

NotATether

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Who would've known! (/s)

If anyone who was into cryptocurrency was not supporting him because of the things he said about crypto then that's a looney. A Trump win will pretty much guarantee Bitcoin's price hitting $80K, maybe even $90K.

Of course, Bitcoin would still reach those levels without Trump winning, it will just take longer to do so, understandably.

pooya87

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Quote from: paraggik on July 17, 2024, 04:58:18 PM

He highlighted the possibility of Bitcoin becoming a global safe haven amid geopolitical uncertainty and the declining dominance of the US dollar as the world’s reserve currency.

It's an interesting view.

The world is dedollarising, deglobalising and also deamericanising all of which will continue to weaken the dollar. With Trump and his radical moves (such as the Tariff wars he'll start) the dollar will get even weaker as the countries will speed up dedollarising and the small number of countries that were uncertain to this day would join the dedollarisation wagon which would weaken the dollar even more.

All that can help boost bitcoin price by a lot over the long run not just some silly short lived surges when the market reacts emotionally to some news about candidates.

paraggik

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https://coinbuzzfeed.com/mark-cuban-predicts-bitcoin-surge-amid-trump-support-in-silicon-valley/

Billionaire entrepreneur Mark Cuban has made headlines with his recent statements about Bitcoin, the world’s leading cryptocurrency. According to Cuban, Silicon Valley’s support for Donald Trump is strategically aimed at boosting the price of Bitcoin. This intriguing claim suggests a significant shift in the tech hub’s political stance, driven by financial motivations.

Cuban emphasized that the potential for Bitcoin’s price is far greater than most people anticipate. He highlighted the possibility of Bitcoin becoming a global safe haven amid geopolitical uncertainty and the declining dominance of the US dollar as the world’s reserve currency.

In a detailed analysis, Cuban explained that geopolitical tensions and the weakening of the US dollar could drive individuals and nations to seek refuge in Bitcoin. As the dollar’s stability wanes, Bitcoin could emerge as a reliable store of value, attracting both institutional and retail investors.

This shift could transform Bitcoin from a speculative asset into a cornerstone of global finance. Cuban’s vision sees Bitcoin fulfilling the dreams of its most ardent supporters—becoming a universal currency that people worldwide trust to preserve their wealth.

Topic: Mark Cuban Predicts Bitcoin Surge Amid Trump Support in Silicon Valley (Read 203 times)