|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Donald Trump Decisively Won the Presidential Election and Markets Overall and the Crypto Market Reacted Instantly
Nov 10, 2024 at 05:40 pm
Donald Trump decisively won the presidential election and markets overall and the crypto market reacted instantly. Stock markets rose by 2%, and the Dow Jones index recorded a significant jump of 43.47 points. Bitcoin reached all-time highs, climbing to $74K on Election Day and later surpassing $77.2K, currently consolidating around $76.3K.
Donald Trump's victory in the presidential election had an immediate impact on markets, with stock markets rising by 2% and the Dow Jones index recording a significant jump of 43.47 points. Bitcoin also reached all-time highs, climbing to $74K on Election Day and later surpassing $77.2K, currently consolidating around $76.3K.
Let's take a closer look at how this much-anticipated event has affected the political and economic climate, what the markets are expecting, and what possible developments are likely to follow.
Politics
Starting with the key factor—politics—it seems to signal fundamental changes regarding the current and likely future situation. While it may have seemed unthinkable five years ago, politics now plays a significant role in shaping the crypto market, and this influence is expected to increase.
And there is probably the first Bitcoin president in U.S. history because Trump’s statements suggest a greater alignment with crypto compared to his opponents, such as Kamala Harris. However, we are not here to just believe the statements but to research the real movements and their effects, which are yet to be felt by the entire crypto community.
Still, Nayib Bukele, who boldly challenged the IMF and other financial institutions by adopting a Bitcoin standard, was the first to congratulate Donald Trump on his victory.
Also, Michael Saylor, one of the key figures for Bitcoin and crypto, labeled Donald Trump’s victory as the arrival of the first crypto president in U.S. history.
Senator Cynthia Lummis has reinforced her crypto bill to establish a strategic Bitcoin reserve in the U.S., which now stands a better chance of becoming a historic document, not just for America but for the world. This crypto bill envisions the purchase of 200,000 BTC annually for five years, and she predicts that within 12 weeks, other countries will also begin adopting similar Bitcoin reserves.
If this scenario does unfold, the US as the world’s largest economy could indeed provide a very powerful incentive for similar initiatives for other nations around the world, and some have already started preparing for this in advance.
Of course, everyone has started preparing in their own way. Remember how Germany recently sold off all of its Bitcoin reserves for an average of $54K? Your comments are welcome.
Also, there is a chance that Donald Trump may launch several initiatives and investigations into the activities of the previous administration. But don’t be in a hurry, there is no need to overestimate his real possibilities, as the system works a little differently.
Yes, Donald Trump’s victory is not the only victory for the Republicans, as they also take the majority, namely 253 representatives in the House of Representatives and 16 pro-crypto senators in Congress for the next two years. In all likelihood, this does seem to be in line with the sentiment of the majority of Americans if you look at this map, which demonstrates the so-called red wave and has also fundamentally discredited the credibility of social polls.
However, this is still not enough to overcome the filibuster, meaning that the Democrats will need to negotiate and may be able to block several initiatives.
A possible subject of investigation is the Checkpoint 2.0 operation, allegedly directed by Democrats against cryptocurrency and its participants. It is also worth noting that Senate Banking Committee Chair Sherrod Brown of Ohio has lost his senate seat and overall it seems that a trend is emerging where an anti-crypto stance is a threat to political careers and a number of politicians need to think about it to keep the electorate.
Economy
Let’s take a look at the global economy and markets, and the challenges that the new administration will have to deal with.
Let’s start with the good news that in the short term, the economy has reacted positively to the outcome of the election, and while America is in a red tide, stock markets are blooming in green.
The same thing is happening with the entire crypto market, but we will come back to it a little later.
Market stocks rose by 2% and the Dow Jones rating posted a record jump to 43.47, ten-year Treasury yields and the U.S. dollar rose, while gold declined.
Investors are looking for higher real economic growth rather than inflation and the US Fed has also made a planned 25 basis point interest rate cut, but some have questions about further cuts as at the same time inflation expectations are also rising.
The rise in Treasury Inflation-Protected Securities (TIPS) suggests market anticipation of inflationary risks due to Trump’s economic agenda, including tax cuts, that may stimulate growth, but fiscal expansion and tax incentives could drive consumer prices higher, potentially adding volatility to the recovering bond market.
Meanwhile, the delinquency rate on commercial mortgage-backed securities (CMBS) for offices jumped to 9.4% in October, the highest in 11 years, and the delinquency rate on
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Dogecoin Creator Billy Markus Tells the Community the Specific Code to Change to Get Rid of the Inflation, before Politely Asking the Community to Stop Bothering Him About It
- Nov 14, 2024 at 08:25 pm
- There's long been consternation in the Dogecoin community over the coin's inflationary tokenomics — billions of DOGE are added to the circulating supply every year
-
- These Are Three of the Best Cryptocurrencies to Buy Right Now Before They Skyrocket
- Nov 14, 2024 at 08:25 pm
- Bitcoin (CRYPTO: BTC) leading the way by setting a new all-time high of over $88,000. This rally has ignited excitement across the board, driving up prices and drawing fresh interest in crypto.
-
- PEPE Coin Price Challenging The $0.00002387 Resistance After Coinbase Listing, But Will FOMO Buying Its L2 Challenger PEPU Steal Its Limelight?
- Nov 14, 2024 at 08:25 pm
- The Pepe coin price went ballistic, surging over 73% in the last 24 hours to trade at $0.00002261 as of 4:38 a.m. EST as a buyer frenzy erupts around the meme coin.
-
- Ripple's XRP and JetBolt Steal the Spotlight in a Market Buzzing with Movement
- Nov 14, 2024 at 08:25 pm
- In a market buzzing with movement, Ripple's XRP and JetBolt are grabbing the spotlight for different reasons—XRP with its bold price rally and ongoing quest to reach $1, and JetBolt with its innovative zero-gas technology and impressive presale success.