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    Author Topic: Bitcoin Trump Bump = ~7% (womp womp)  (Read 790 times)
    legiteum (OP)
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    November 07, 2024, 03:31:43 PM
     #1

    The markets have spoken, and it would appear that they don't seem to rate Trump's victory as being all that significant for Bitcoin.

    This makes sense to me, since:

    1. Bitcoin has been doing just fine under Biden, going up 500% while he was president. Although there are tiny numbers of people (e.g. certain crypto businesses and brokers) that have been negatively effected by current US policy, the market overall for Bitcoin is essentially 100% free and open to any investor who wants to bet on Bitcoin here.

    2. It's clear that US laws won't significantly change under Trump in a way that will pump Bitcoin's price. Bitcoin is 100% legal in the US and anybody here who wants to can buy and sell it. Hence the only imaginable new laws would have to involve forcing people to buy Bitcoin, which is very unlikely under Trump or any other US president (forcing people to buy Trump's coin, on the other hand, might be something he will try to do Smiley).

    3. Trump's policies involve a lot of new risk to the US economy. Trump has promised two gigantic changes to the US economy: massive import tariffs that will trigger a worldwide trade war, and the deportation of 20 million US residents, millions of whom work in key labor markets. Although it remains to be seen if Trump will actually implement these promises (the markets right now are betting he won't), this certainly adds risk that was not there under Biden.

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