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COINTURK NEWS > Bitcoin (BTC) > Trump’s Potential Impact on the U.S. Cryptocurrency Market Ignites Interest
Bitcoin (BTC)

Trump’s Potential Impact on the U.S. Cryptocurrency Market Ignites Interest

In Brief

  • Trump's presidency could prioritize cryptocurrency, sparking industry excitement.

  • Contrasting approaches of Trump and Biden influence the crypto market landscape.

  • Current Bitcoin prices reflect cautious optimism from U.S. investors.

Fatih Uçar
Fatih Uçar 4 months ago
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Positive news continues to emerge regarding cryptocurrencies in the United States, one of the world’s largest economies. However, a significant indicator reveals that U.S. investors’ enthusiasm remains low. According to a report published by Bloomberg on Thursday night, Donald Trump may declare cryptocurrencies a national priority as soon as he takes office. Additionally, plans are underway to establish an advisory board to advocate for the political objectives of the cryptocurrency sector. There are expectations that on his first day in office, Trump will issue a presidential decree supporting the creation of a strategic Bitcoin $103,182 reserve.

Contents
New Era in U.S. Cryptocurrency RegulationsBitcoin Price and U.S. Investors’ Expectations

New Era in U.S. Cryptocurrency Regulations

During his election campaign, Trump expressed his support for cryptocurrencies, despite initially adopting a cautious stance. This has created optimism regarding easier regulations and the widespread use of cryptocurrencies.

Trump’s favorable approach to cryptocurrencies presents a stark contrast to the stringent policies of the Joe Biden administration. Throughout Biden’s term, various U.S. institutions imposed over 100 sanctions on the cryptocurrency sector. Trump’s promise to change this approach has generated excitement within the industry.

Bitcoin Price and U.S. Investors’ Expectations

However, the anticipated market activity has yet to materialize. The price of Bitcoin on Coinbase remains lower compared to leading global exchanges like Binance, indicating limited demand from U.S.-based investors.

According to the Coinbase premium index, Bitcoin’s price fluctuations reflect the actions of U.S. investors. In November and December, Bitcoin’s price surged from $70,000 to over $108,000, predominantly driven by U.S. investors.

Coinbase Premium Index

Recently, however, a similar pricing trend has not been observed on Coinbase. This has been interpreted as investors wanting assurance that Trump’s administration will fulfill its promises. Consequently, the optimistic expectations in the market have not fully reflected in the prices.

As of the writing of this article, Bitcoin’s price stands at $101,600, fluctuating between $90,000 and $108,000 since mid-December.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Fatih Uçar 17 January, 2025 - 12:35 pm 17 January, 2025 - 12:35 pm
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