The election of Donald Trump as US President in November 2024 has had a noticeable impact on the cryptocurrency market. During the election campaign, Trump actively supported the crypto industry, promising to make the United States a “bitcoin superpower” and create a national bitcoin strategic reserve. 
Market reaction to Trump’s election
After the election results were announced, the bitcoin rate reached record highs, exceeding $80,000 for the first time.  Altcoins such as Ethereum and Dogecoin also showed significant growth. 
Expected regulatory changes
Trump has expressed his intention to fire SEC Chairman Gary Gensler, known for his tough stance on cryptocurrencies, and appoint a more lenient management.  The new administration is expected to create more favorable conditions for the development of the crypto industry, including reducing taxes on mining and simplifying regulations. 
Analysts predict that with the support of the Trump administration, interest in cryptocurrencies will continue to grow, attracting new investors and further developing the market.
Overall, Trump's rise to power in January 2025 is likely to strengthen the position of cryptocurrencies
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