I think that the reason that previous US administrations have not been particularly supportive of Bitcoin is because they realised it could be the biggest threat to the Dollar as  the main currency for international trade. Especially for oil.  Trump is not a very intellectually mature thinker.  Right now he is getting a lot of flattery from pro Bitcoin guys and that has translated into the pump we are currently experiencing. But if somebody were to advise him that pumping Bitcoin could be harmful to the position of the Petrodollar I wonder if that would cause him to withdraw his support? That's the biggest threat to this bull run in my opinion.  Even if that were to happen though, I think there is enough intertest in Bitcoin right now that plenty others, from retail to nation states, to jump in there and buy the dip.

It's funny though, every bull run people are saying "this time it's different" and nobody thinks it can crash.  Until it does.