There would be no effect at all. Even the Obama administration does not have something to say about bitcoin. Trump would not touch bitcoin knowing that he's more into envisioning larger things for the great 'ol America. His main concern is about keeping other nations off of his motherland. Anyways, bitcoin would still continue to move forward even with a president like him. As a businessman, he would pursue larger things other than the thriving bitcoin community and economy.
Every US attorney is appointed by the president. The guy who arrested Charlie Shrem and shutdown SR, Preet Bharara, is an employee of and was appointed by Barack Obama. Trump gets to replace all the US attorneys. SEC commissioners and FinCEN directors are appointed directly by Trump or his Secretary of Treasury. Trump's appointments have a huge effect on how Bitcoin and Bitcoin businesses are treated. Trump appoints the Secretary of Treasury, the Secretary of Treasury appoints the Director of FinCEN, the Director of FinCEN can choose to completely throw out and change this rule:
In July 2011, FinCEN added "other value that substitutes for currency" to its definition of money services businesses in preparation to adapt the respective rule to virtual currencies.[10] On March 18, 2013 FinCEN issued an interpretive guidance regarding virtual currencies,[11] according to which, exchangers and administrators, but not users of convertible virtual currency are considered money transmitters, and must comply with rules to prevent money laundering/terrorist financing ("AML/CFT") and other forms of financial crime, by record-keeping, reporting and registering with FinCEN. Jennifer Shasky Calvery, director of FinCEN said, Virtual currencies are subject to the same rules as other currencies.
Basic money services business rules apply here.
Trump -> Secretary of Treasury -> Director of FinCEN -> virtual currency rules
Trump -> SEC commisioners -> virtual currency rules
Trump -> US Attorneys -> virtual currency rules
Trump -> Federal Judges -> virtual currency rules