Trump's election impact on Bitcoin

Source: Daoshuo Blockchain

The US election has finally come to an end.

The American people have used their votes to determine the direction of the country in the next four years.

After this election, the Republican Party not only won the presidency, but also controlled the Senate and is likely to consolidate the majority of seats in the House of Representatives.

The Republican Party will unify the world.

This high degree of centralization means that Trump will not encounter too many obstacles in implementing policies in the next administration.

It is also worth noting that the next four-year term will be Trump's last term. From the perspective of governance, he has no pressure to be re-elected, so he will not have too many concerns about policy making, and will go all out to transform the United States according to his inner ideas.

Now, both the objective environment and subjective will allow him to work at full speed and let go.

Will the next four years be radical or crazy for the United States and the world? Let's wait and see.

With Trump in such a powerful position, the most important thing for participants in our crypto ecosystem is what kind of crypto policy Trump will introduce next.

The market is the best reflection of people's expectations. Just when Trump was leading by a large margin, Bitcoin rose sharply to a new high, exceeding $75,000 at one point.

This shows how high everyone's expectations of Trump are.

After Trump was elected, someone on the Internet summarized Trump's views at this year's Bitcoin Conference. I excerpted the more important and directly related points:

- Gary Gensler will be fired and a new SEC chairman will be appointed.

- If elected, a strategic national Bitcoin reserve will be established for the US government.

- The US government will retain 100% of the Bitcoin it owns

- The United States will become the global cryptocurrency capital and the world's Bitcoin superpower.

If Trump really agrees with crypto assets to some extent and realizes that crypto technology will play an extremely important role in the future competition between countries, he will definitely be able to do and will do the above points.

In addition, apart from the crypto industry, from Trump's overall governing ideas, his ideas on domestic affairs basically continue the traditional ideas of the Republican Party, that is, small government, less intervention, loosening up enterprises, and reducing taxes for enterprises.

Therefore, from the perspective of his overall thinking, even in the worst case, he will not impose too much intervention on the crypto industry, which is the biggest difference between him and the Democratic government.

As long as there is no excessive intervention, I think the US crypto industry and enterprises will be much better in the coming days than they are now.

So whether from his individual attitude towards the crypto industry or from his overall thinking, the crypto industry will have a fairly relaxed environment in the United States in the next four years.

If he can introduce some of the policies he promised in this situation, then crypto assets will definitely have better room for growth.

However, I am still cautious about the extent to which this pull from the US government can benefit the entire crypto ecosystem.

First of all, judging from the current remarks of Trump and traditional American politicians, their focus and attention is still mainly on Bitcoin.

In addition, when Trump led the way and Bitcoin rose all the way and set new highs, I noticed that other coins (including Ethereum) only rose slightly, and their eye-catching degree was completely incomparable to Bitcoin.

So I feel more and more that if the crypto ecosystem only has this single pull from the US government (without innovation in the internal application ecosystem), then in the next trend, I am afraid that only Bitcoin will benefit the most, while other coins will simply follow the rise, but most of them may not easily exceed Bitcoin in terms of increase.

Such a rise lacks stamina.

I previously estimated that Bitcoin could reach $100,000 next year, and now I believe this more.

However, more and more people are calling for $150,000 or even $200,000, which I dare not think about.

Because it is difficult to judge how long this situation, which is simply good for Bitcoin, can last and how high it can push Bitcoin. Trump's story may last for a few months, but can it last for half a year? Can it last for a year?

If there is no sustainability, what force can push the price of Bitcoin up desperately?

Rely on big capital to keep pushing it up?

Even if the US government includes it in its strategic reserves, it will take a long time and not be achieved overnight.

I still look forward to the entire crypto ecosystem being able to "join hands" with both external support and internal application innovation. Not only will Bitcoin rise sharply, but a large number of mainstream currencies in the entire ecosystem will have an increase that exceeds Bitcoin. Only in this way can the crypto ecosystem usher in the big bull market we expect.

The new president with great power will take office in January next year. One to two months after taking office, his series of policies will be introduced in full swing.

I hope we can witness a new chapter in the crypto ecosystem next year.