Quote from: Swordsoffreedom on December 09, 2024, 09:26:45 AM

Quote from: ajiz138 on December 07, 2024, 10:45:49 AM

Can't predict for sure what is clear is that Trump's victory as US President pushed bitcoin up to $100K even though it's already bullish time.

What you said $150,000 is quite realistic if you look at it now and it could be bullish next year the movement is even more significant, we know how Trump's promise in his political campaign Bitcoin will be made a reserve strategy that I know and maybe it will be realized there.

If Trump's victory wasn't the reason bitcoin's price surged to $100k, then what was the catalyst for it? Why didn't Bitcoin price increase before he was elected or a few weeks after the election ended? If I remember correctly, bitcoin price started rising on election day and started accelerating further after the news of his victory. So there is no denying that his victory was a catalyst.

If you don't believe Trump's victory is the catalyst for bitcoin's price increase, why should you expect his promise to? While we don't know if he can deliver on that promise, the market will move that way. The market moves on the news, the market has bet on his victory, so when he wins, the market will react positively and vice versa.

I think the rise in bitcoin's price after Trump's victory had a lot to do with his appeal to the crypto community. Many saw his win as a signal that crypto could gain more legitimacy especially with his hints about "strategic national bitcoin reserve". The market often reacts to such optimism especially from those who see crypto as a disruptor to traditional financial systems.

For me, it's a reminder that markets are heavily influenced by political events and promises sometimes more than we expect

KSRose-y

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