The reason some people go for Trump is because of altcoins which are pump and dump and not a store of value as they do not get to ATH after they become an old coin. We expected something better but what we saw were Trump and Melania coin.
You could be right but to my instincts, I think the people hold up to Trump due to his earlier promises that he was going to elevate the bitcoin market and it blockchains that is to be sustainable to it community users.
He really made lot of admirable promises during his political rallys and when he won the US presidency and when he was sworn into office, bitcoin skyrocketed to an utmost level which got more enthusiasts to believe in him as he has in a short time proved what he is capable of doing in the horizon.
It was just then it a sudden him being Trump diverted his goal to the alt or I should say meme coins when his $trump coin was declared launched so, it also captured the interests of the alt coins community users that then also came to their benefits.