BlockBeats news, on November 8, JPMorgan stated in a report released on Thursday that it believes Bitcoin will continue to benefit from the Republican victory in the U.S. presidential election.

The report indicated that a Trump victory will produce a reaction similar to that of 2016 in about eight weeks. Although Bitcoin surged and gold prices fell due to Trump's victory, his policies may support both in 2025. As traders attempt to hedge against currency devaluation and geopolitical resistance, both gold and Bitcoin may benefit from 'devaluation trades.'

JPMorgan believes that Trump has repeatedly stated he will support the digital asset industry and raise tariffs, both of which could ultimately benefit Bitcoin.