Bitcoin has really started this
year off wild!
I was reading that it might hit $2000 by end of year, because of Trump’s ‘spending binge’ and dollar rally.
What do you guys think?
Anything which Trump does might not surprise the market. If the market is not surprised or shocked, then Bitcoin will not have a huge boost.
So the current price reflects all of Trump's actions and proposed actions.
It may not get a powerful boost but it still may gain value little by little. And we have already seen that how it happened over a year ago (starting in early September, 2015) when Bitcoin price had started to rise gradually step by step. Coincidence or not, this rise is well correlated with the Chinese authorities slowly but surely devaluing Renminbi. Now Trump comes out and says that the dollar is too expensive. What if he starts another round of quantitative easing squared? I guess the dollar depreciation will be more sharp and less gradual than that of the Chinese Yuan, and the effect of it on Bitcoin and its price will be by far more pronounced...
The markets can't possibly front-run dollar inflation until it really comes about