Trump's Inauguration 6 Days Before the Event: What is the Future of Cryptocurrencies?

Trump will become the 47th president of the United States and the inauguration will take place in six days. Following the news, cryptocurrency analysts are closely monitoring the situation.

With the inauguration taking place in a week's time, cryptocurrency analysts are expecting a huge impact as soon as Trump takes the helm, predicting the cryptocurrency market to reach unprecedented potential or the chart to move towards a bearish trend.

Current State of the Cryptocurrency World

The cryptocurrency world is abuzz about the possibility that the news of Trump's arrival in the Oval Office has already affected the price of Bitcoin. With Trump's campaign promises, the market expects Bitcoin to continue to rise.

According to cryptocurrency analysts Hoeem and Dan Gambardello, the crypto world has yet to see the effects of Trump's rise to power. They predict that there is the possibility of a bullish trend once Trump takes over.

Gambardello posted a tweet on X, stating:
"People think Trump's pro-crypto presidency and government runs to buy Bitcoin are already discounted in prices. They aren't at all."

Cryptocurrency expert Hoeem also shared a similar thought, stating:
"Trump's inauguration is NOT discounted in prices."

Hoeem added:
"Trump will backtrack on anything that could negatively impact the cryptocurrency market. Instead, he will redouble his efforts on anything that will have a positive impact on the crypto market. From day one, he wants the market to go up and keep going up, not only because of his team and family's strong ties to the market, but also simply because of his ego."

The tweets and enthusiasm show that even the traditional financial markets are waiting to capitalise on the profits from the bullish cryptocurrency run under the Trump administration.

According to a survey conducted by Bitwise, nearly 56% of financial advisors said Trump's victory had prompted them to invest in cryptocurrencies. Of these, 99% plan to increase their crypto portfolios in 2025.

Rise or Fall: What is the Future of Cryptocurrencies?

While many expect a bullish trend in the cryptocurrency world, some suggest caution.

The New York Digital Investment Group (NYDIG) stated that it will take time for Trump to deliver on his campaign promises. In addition, NYDIG reported that there will be no significant changes in cryptocurrency regulations immediately after Trump takes office, as key government positions have yet to be filled.

NYDIG added: "We must be cautious in predicting immediate changes. Key officials have yet to be appointed, those already appointed have to go through the confirmation process, and once confirmed, they have to assemble their staff."

In addition, government offices have not yet decided who will lead entities such as the OCC, CFTC and FDIC, but the designated leaders are expected to be cryptocurrency-friendly.

During his previous presidential term, Trump introduced policies that affected the financial sector, including cryptocurrency. Trump has always openly expressed his interest in this digital space and, this time, observers are waiting to see when and how he will deliver on his promises. The crypto community is closely monitoring the analytics, remaining optimistic but also cautious.