Bitcoin and Dogecoin Could See New Gains in the Trump Era

Under Trump's leadership, the crypto market is gaining attention. Bitcoin (BTC) and Dogecoin (DOGE) could benefit the most with Trump.

Bitcoin (BTC) and Dogecoin (DOGE) could see new gains under Trump’s presidency, along with other altcoins if regulations improve. At press time, Bitcoin traded close to $100,000, showing strong investor confidence.

Bitcoin As A Strategic Reserve For The U.S. In The Trump Era?

Bitcoin has seen a strong surge since the 5 November election results, climbing steadily toward $100,000 over the last six weeks. Many believe Trump’s presidency could push Bitcoin even higher. On Thursday, Trump spoke at the New York Stock Exchange, and when asked about a Bitcoin reserve, he said,

“We are gonna do something great with crypto.”

This statement sparked optimism in the crypto community, and the idea of a national Bitcoin reserve is gaining traction. For instance, on 12 December, Texas proposed legislation to establish this reserve. Bitcoin’s price history also points to strong growth. In previous bull cycles, Bitcoin saw fast gains:

In 2020, Bitcoin consolidated briefly at its all-time high (ATH). After three weeks, it surged by 400% before April 2021.

Now, analysts suggest Bitcoin could aim for $280,000 to $300,000 by April 2025. However, gains may take longer this time. Trump’s pro-crypto stance and growing institutional adoption could support this rise.

Dogecoin Could See New Gains With Musk’s Influence

While Bitcoin dominates headlines, Dogecoin (DOGE) could also rise. Elon Musk, a well-known supporter of DOGE, continues to influence its price. Musk’s past actions had a major impact on Dogecoin. For example:

In October 2023, Musk tweeted about DOGE, and this caused a 26% price increase in just four days.

During the last cycle, Musk’s announcements were key drivers of DOGE’s rise. News like Tesla accepting DOGE payments added fuel to the memecoin’s rally. This year, Dogecoin’s chart patterns look similar to early 2021. Back then, DOGE skyrocketed by 1,400% in six weeks. While those gains are unlikely to repeat, analysts predict DOGE could still hit $1.33.

Moreover, as Bitcoin stabilizes, capital often flows into altcoins like Dogecoin. Musk’s continued support and retail investor interest could trigger another rally.

Trump Altcoins And Regulatory Clarity

Trump’s return to office brings hope for better regulatory clarity in crypto markets. This shift could benefit not just Bitcoin and Dogecoin but also other altcoins. For instance, projects like Ripple’s RLUSD stablecoin have already gained momentum.

$RLUSD is launching soon! Stay vigilant and report any impersonations or scams. https://t.co/yqnAdBQSfW

— Ripple (@Ripple) December 10, 2024

Moreover, as Bitcoin approaches higher resistance levels, investors tend to seek higher returns elsewhere. This process, called capital rotation, often drives top altcoins higher.