Since the election the future for crypto has done a complete 180o! Trump and all those around him are themselves investors. Many of the senators been voted in are crypto friendly. Gary Gensler will be gone on Jan 20 a crypto friendly chair will replace him.Many commentators expect the outstanding cases to be dropped or settled thereafter.
Regulation is coming next year, which will bring more institutional and retail investors alike. Trump has said he's going to start a Bitcoin reserve fund. Extremely bullish now, hence the pump up.
I wouldn't say did 180? I mean we were already up weren't we? That doesn't mean we didn't go even further up, of course after the election the price went up even more, but not like we were in some bear run before the election. Remember, we went from a bottom of under 20k dollars, we bottomed out at 15-16k during bear run, and peaked above 70k+ dollars, nearly 75k dollars before the election, that's a 3x increase even more wherever you look from, could be considered as high as 5x increase.
We haven't even done 50% increase so far since then, we are doing good don't get me wrong and I am very happy that we are breaking all time highs constantly, that is an awesome thing, but lets not act as if we were going down and then we started to go up.
Bitcoin would have tanked had the Democrats won, in my view.
The outlook for Bitcoin and crypto was uncertain before the election. Under the Democrats the future looked more of the same. Prices did increase but that was because Trump began championing crypto and a 50/50 chance of him becoming POTUS. Remember he was anti crypto in the past. Without a Trump victory there would not have been a rally as we've seen. Kamala made some noises about being more crypto friendly than Biden but nothing along the lines of Trump.
Prices also rose pre election because of the halving, the liquidity cycle (interest rates were seen as having topped out) bitcoin very susceptible to the liquidity cycle.