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Bitcoin Set to Rise as Crypto-friendly Trump Emerges as Next U.S. President
Coinbase Shares Are Trading Higher Amid the Election of President-Elect Trump as His Policies Could Be Favorable Towards the Crypto Market.
Why Bitcoin-Related Stock CleanSpark Is Up 35% This Week
Impeachment of the SEC Chairman, revocation of the cryptocurrency lawsuit, relaxation of bank inspections... These might be the first shots of "Trump 2.0"!
Trump once claimed that he would fire SEC Chairman Gary Gensler on his first day in office, and planned to adopt a more lenient attitude towards the cryptos industry, possibly withdrawing the lawsuits against exchanges such as Binance and Coinbase. However, analysts believe that the new government's adjustment efforts may not be as significant.
"Trump trade" fizzled out, what is the market worried about?
The market is concerned that if Trump really fulfills his campaign promises, especially on tariff policy, the usa may see larger deficits and soaring inflation, immigrant workers being deported, which could lead to a significant decline in economic growth.
Market doubts policy difficult to implement, traders' enthusiasm for the "Trump trade" cools down.
After initially rushing into the 'Trump trade', some investors in certain asset classes are gradually lowering their enthusiasm, as they question whether Trump will pursue his ambitious tariff proposals as the President of the USA.