Topic: Trump isn’t the only ‘story’ driving Bitcoin’s price higher, says exec (Read 810 times)

For estimates based on my personal analysis, I think the effect of the increase in bitcoin is also inseparable from Trump being elected as the US president because he was quite vocal about bitcoin during the campaign and it was different when Harris won the election and it is not certain that bitcoin could rise like it is now. If you count the previous halving and maybe for now there has been no bull run because based on the previous cycle, bitcoin should have approached the halving again next year. But there is always no certainty about that because what happened was the opposite and bitcoin approached the post-halving faster than the cycle count.

My assumption is related to Trump's victory, although it is also not separate from several other events that occurred so that bitcoin got a bull run faster than expected. I could have missed some other estimates, but I see this as related to Trump who won the US election.

Bitcoin is just a small part of the world economy so anything that affects the economy will also affect bitcoin.

Who becomes the president of the United States is always a top concern of the world because the future of the world economy depends on their policies. Whether the world becomes better or worse largely depends on their leadership, so don't try to deny Trump's role and influence on bitcoin. His victory wasn't the only factor, but it clearly played a major role in bitcoin's recent surge.
I know many people will not like this blunt truth because a politician influencing bitcoin will not be good for it but we need to accept the fact that they can influence bitcoin the way they want.

Bitcoin ETF approval is one obviously, as it was the catalyst for a new all time high before the halving. It's the first time that we have seen in Bitcoin history, that achieving a all time high before halving hasn't been done before.

In 2020, and not go to too technical, we have the pandemic, and yet the price did move to where we expect it to be during that time, leading to the bull run of 2021. So there could be events, whether geo-political that can really affect the price of Bitcoin.

Yes, the important thing is that this effect brought good news for the market, it has already passed the $100k range at most they said no, that they were not going to achieve it , and it Cannot be denied that this is not only because of the Trump effect but due to the economic policies that have already been implemented, that some investors already feel more confident with BTC , to invest without fear because they know they will give good profits, all of this is due to the normal events of a market, not just Trump, it is understood, but without the Trump effect we would not be living this.

Yeah, there could be other factors, but we can't deny it though. What do we think if Kamala Harris won though? Could be the price in the 6 digit by now? I highly doubt it. Of course we don't want politics to get involved, nevertheless, Bitcoin is too big that every news around will have a big effect on it's price, positive or negative.

So it just so happened that Trump being pro-crypto President or at least uses Bitcoin as a tool to make him win. And now we as crypto enthusiast is going to benefit from it and one of those benefits is seeing the price getting into the $100,000 for the first time in our short history.

Never let politics be the reason for believing in something, there are far better reasons behind the scenes then just a name of one person.

Same for BTC there are a multitude of reasons for price to drive higher.  The hesitation this year was linked to the sharp move at the start of the year.  For much higher prices the revision and consolidation was necessary and helpful to future growth.

I think we'll need an additional reason for a proper next stage to BTC.  Trump is a known story, I'd love if he had magic tricks coming out of a top hat somehow unseen until the magic performed but we can see most things what will happen right now.

I imagine we need to see a Dollar index trade lower below 100 and this will loosen the reins on BTC with some relative currency weakness.  Just this simple process would be enough for the whole next year to be bullish beyond present prices.
  My reference for that would be the summer of 2020 which I think started with a lower DXY, the autumn and winter of course was great rises in BTC.

I will say as of now that everything work altogether for the bitcoin market to pump this far, we are still having the effect of the post halving experience form the market price which obviously affects it demand and supply, then the election as well now turned to be the booster to having this coming this fast, because if there was no any election, we are still going to have the all time high and cross to $100,000 but just that we may not know how sooner this might have occur.

Yes true, a lot of people started to believe in bitcoin after trump, and there is no denying that he had some part played in this increase. However, the point isn't "did trump had anything to do with it", the point is, "is trump the sole reason for it?" and I can tell you that he isn't.

We all know that halving played a big role, and even ETF's played a big role as well, so those were the important parts, and of course trump played a role too. Basically we had all of these together that come together and had a better future for us all combined. This doesn't mean that we can make a discussion about this and get away with a single reason, we have to realize that all of them are all great reasons together make for a big increase.

The reasons for the price increase for each halving vary, but basically a halving is a reduction in the reward per block which makes bitcoin increasingly scarce. The price of bitcoin rises due to increased demand, this is the basic law of why the price rises, but there are also reasons that drive the increase in interest.

Trump's victory as US president has made many investors optimistic about a better future for bitcoin. He is one of the many people who supports bitcoin and invests in it (as far as I know), so market optimism grows because of it. Legalization and more favorable adjustments to bitcoin can certainly be expected during his term as president, but these are our expectations of him.

Bitcoin halving works to increase the price of Bitcoin, but it is certainly foolish to assume that the halving effect is the only reason for the current position of Bitcoin price. We have seen Bitcoin halvings before where Bitcoin price increased, but the hype that has arisen at the present time would not have been possible if Trump had not come to power and a big proof of this is that even after the halving, the price of Bitcoin did not exceed 73k, but when Trump was elected, people from all walks of life gained confidence in investing in Bitcoin, as a reflection of which we are seeing a total market cap of about 4 trillion, which was not there before in the history of crypto.

It's true, I agree, many say that it was the natural course of the market that would lead to this price, I also tell them that it was not and it is all because of a political problem, if here in the forum we put politics first things will not flow much, it is known that bitcoin does not move because of politics, only this presidential event surpassed what many of us believed, when I saw that Donald Trump won, I visualized myself with bitcoin at $100k, immediately, with Kmalaa it was $50k or less, that simple.

I feel like the most important, yet underestimated factor, is the amount of bitcoin left on exchanges. This number steadily goes down and it's obvious that there's not enough bitcoin to satisfy demand in the long run if it remains similar to what it has been in the last 2 or 3 cycles. A lower number of purchasable bitcoin leads to a supply shock and what we're seeing, this small raid towards $100k is just a beginning. May analysts predict that at some point, when country adoption becomes higher, miners will not be able to satisfy the demand and exchanges will run out of BTC and sellers will see there's no market depth at a given level and simply move their orders up to see how much the buyer is willing to pay.

The price of bitcoin to be driven was first started as a result of Donald Trump triumphing in the presidential elections, but the effect of his winning wouldn’t have lasted this long and to see bitcoin coming this far in price. The effect of Donald Trump on the bitcoin is far over in my opinion and the market is just obeying its post halving effects that always occur after every halving has taken place. If Kamala Harris have won the elections, bitcoin may not have started pumping immediately but by how it should have been in the bull momentum already and nothing could stop it from not obeying its post halving effect that always occur after every four years. Just as the news have said I totally believe bitcoin is obeying now.

There are many things in the market that we as market speculators and investors do not know, in this case Trump was the trigger for the price of BTC to go up, that cannot be denied, but if it is happening for other things it must also be considered, it is simple, BTC does not go up or down only for politics, but Trump did give it a boost so that the price would go up and that is something that must be seen.

If Trump had not won, the market circumstances would not have been the same, they would have been different, perhaps very bad.

It was just that a good add up on which we cant be able to deny that it did make out some significant impact into Bitcoins price or simply on the entire market on which it did make out some bullish momentum.
We do know that news and fundamentals could really be give out that effect but it would really be just that temporal. Honestly, im not really that trusting up that much when it comes to those news and other fundamentals that it will really be lasting up until the end. We do know that when it comes to personal decisions and views of a certain individual could really be making up some u-turn on which it will really be that resulting into some negative and this isnt the first time that did happen into this market but already on several times. Therefore, it will really be always that good or better that you do expect the unexpected to happen because there's no way that these things will remain up and decisions could really be that goes south or go into the other path. Lets just be thankful into what happened into that US election on which it did make out some positive effect on the entire crypto market space specially into those people who had invested and goes for short term positions which they did really benefit out the most.

If that is not a question of seeing who is better or worse as president, but we must not take away credit that the price of bitcoin rose thanks to the push that Donald Trump gave it when he won, and there is nothing bad about that, on the contrary, those who are bothered by assuming that is because it affects them that he won, people are very political and in the end that is not good, it creates enmity, enemies unnecessarily, bitcoin was going to rise, but also perhaps not for this moment, for me it was going to rise fully by 2025, but we are in a good moment, it should be taken advantage of.

It was just that only one of the reasons and not really that something that main thing on why Bitcoin did able to break its all time high and creates a new one. It did really just that make out some timing on the moment
when US election happens and since there's a sentiment that Trump is a pro Bitcoin or crypto then it goes in line with that impressions on which it did really go with the flow and that makes the price made out some
kind of influence but of course we dont really know on whats behind the pump or no one really knows on whats happening behind the curtains.

Well, it doesnt matter on what are the actual reason behind yet this market is always been that unpredictable and truly random on which there's no way that we could be able to know on whats the reason behind with those pumps. For those investors who do believe that Trump-thing actually the main reason on why this market pumped up then those are those individuals who are really that newbie into this crypto space.
Experienced and those veteran ones do really knows on how this market works and behaves on which there's no such thing about fundamentals that causes up for things to pump up
like this one or the actual reason on which there's no person on this world knows on whats the main thing on here.

Yes this is correct, abusing a specific religious is actually bad and has led to her failure even though she was pulling weights and most people seems to be happy with her during her campaign doesn't mean that she would had won the election, and people do not like her because she wasn't speaking anything good towards Bitcoin and cryptocurrency at large causing to her failure. Of course Trump knows the heart of the youths and also knows what they are facing and he has came to fix up those loopholes and I believe Trump to be stringent with his words even though it's said of not trusting a politician I can assure that he would at least fullfil about 70-80 percent of promises.

Same thought tho what’s actually behind the pump, Trump can be considered the major factor yet other features triggering the price also. Did Harris ever mentioned bitcoin or cryptocurrency in general during her campaign? I’m curious to know because most words should stay silent as actions speak louder than words, the fact she didn’t care should be considered as though she’s not interested. The price of bitcoin will hit another ATH but not so fast maybe the price might move slow under probability, we still don’t know what’s happening even with Trump let’s watch out after a correction.

It's time to give Trump all his flowers;
When ATH came before halving, we knew it was ETF approval;
However, the pump could be caused by many positive effects this year, but the recent and the most advantageous is the one caused by Trump.