All Conditions are in Place for Growth. What will Happen to Cryptocurrencies After Trump's Victory?
What expectations do cryptocurrency market analysts have of Donald Trump following his victory in the US presidential election?
What expectations do cryptocurrency market analysts have of Donald Trump following his victory in the US presidential election? What price predictions do the experts make?
In the wake of Donald Trump's victory in the US presidential election, the cryptocurrency market is expected to be in a state of flux. In particular, this relates to the attitude towards the cryptocurrency market by the US Securities and Exchange Commission (SEC), which under current President Joe Biden has stepped up its scrutiny of the cryptocurrency market.
In recent years, the regulator has taken on dozens of lawsuits accusing exchanges and brokers of improper registration under securities laws. US broker Bernstein, quoted by Coindesk, foresees greater clarity on the classification of crypto assets, as well as faster progress in passing laws on stablecoin and the general structure of the cryptocurrency market.
In addition, Bernstein foresees proposals for the creation of a national bitcoin reserve in the US, in line with Trump's election promises, and greater focus on mining development in the US.
Trump's Promises on Cryptocurrencies-Aim to Stimulate Market Growth, Experts Say
Bernstein's expectations are in line with statements by Jeffrey Kendrick, head of forex and digital asset research at Standard Chartered bank. Kendrick also noted that Trump's numerous promises to support the cryptocurrency market, such as the firing of SEC chief Gary Gensler, the creation of a national bitcoin reserve, and his intention to make the US the "cryptocurrency capital of the world" and a "bitcoin superpower," will all contribute to the growth of the cryptocurrency market.
In the past two years, the regulator has also filed lawsuits against major players in the crypto sector in the US, including exchanges such as Coinbase and Kraken or market makers such as Cumberland.
The SEC chairman, Gary Gensler, is known for his strongly negative stance on the cryptocurrency market: he has spoken openly about the proliferation of 'fraudsters and cheaters' in this market. Even when the SEC approved the launch of bitcoin-based ETF in the US for the first time in a decade, Gensler stated that his attitude towards the cryptocurrency market had not changed. In July, Trump spoke at the Bitcoin 2024 conference in Nashville, which attracted more than 20,000 attendees, and explicitly promised to be the first to fire Gensler if he won.
Also at Standard Chartered, they believe that by the end of the year, the value of the bitcoin will reach $125,000 and, by the end of 2025, $200,000. Previously, the bank's analysts had predicted the price of the leading cryptocurrency to be around $125,000 in the event of a Trump victory.
Keep up to date with all that is happening in the Web3 and cryptocurrency world: sign up now for the newsletter from SpazioCrypto and receive the most relevant news in your inbox, every Sunday.
With nearly $4.6 billion in options contracts on Bitcoin (BTC) and Ethereum (ETH) expiring, the cryptocurrency market is bracing for increased volatility.
What expectations do cryptocurrency market analysts have of Donald Trump following his victory in the US presidential election? What price predictions do the experts make?
In the wake of Donald Trump's victory in the US presidential election, the cryptocurrency market is expected to be in a state of flux. In particular, this relates to the attitude towards the cryptocurrency market by the US Securities and Exchange Commission (SEC), which under current President Joe Biden has stepped up its scrutiny of the cryptocurrency market.
In recent years, the regulator has taken on dozens of lawsuits accusing exchanges and brokers of improper registration under securities laws. US broker Bernstein, quoted by Coindesk, foresees greater clarity on the classification of crypto assets, as well as faster progress in passing laws on stablecoin and the general structure of the cryptocurrency market.
In addition, Bernstein foresees proposals for the creation of a national bitcoin reserve in the US, in line with Trump's election promises, and greater focus on mining development in the US.
Trump's Promises on Cryptocurrencies-Aim to Stimulate Market Growth, Experts Say
Bernstein's expectations are in line with statements by Jeffrey Kendrick, head of forex and digital asset research at Standard Chartered bank. Kendrick also noted that Trump's numerous promises to support the cryptocurrency market, such as the firing of SEC chief Gary Gensler, the creation of a national bitcoin reserve, and his intention to make the US the "cryptocurrency capital of the world" and a "bitcoin superpower," will all contribute to the growth of the cryptocurrency market.
In the past two years, the regulator has also filed lawsuits against major players in the crypto sector in the US, including exchanges such as Coinbase and Kraken or market makers such as Cumberland.
The SEC chairman, Gary Gensler, is known for his strongly negative stance on the cryptocurrency market: he has spoken openly about the proliferation of 'fraudsters and cheaters' in this market. Even when the SEC approved the launch of bitcoin-based ETF in the US for the first time in a decade, Gensler stated that his attitude towards the cryptocurrency market had not changed. In July, Trump spoke at the Bitcoin 2024 conference in Nashville, which attracted more than 20,000 attendees, and explicitly promised to be the first to fire Gensler if he won.
Also at Standard Chartered, they believe that by the end of the year, the value of the bitcoin will reach $125,000 and, by the end of 2025, $200,000. Previously, the bank's analysts had predicted the price of the leading cryptocurrency to be around $125,000 in the event of a Trump victory.
Keep up to date with all that is happening in the Web3 and cryptocurrency world: sign up now for the newsletter from SpazioCrypto and receive the most relevant news in your inbox, every Sunday.
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