Citing multiple analysts from the Financial Times, former President Donald Trump's potential return to the White House could cause a significant surge in the value of Bitcoin. Due to the former president's "perceived stance and policies in support of cryptocurrencies," the concept of "Trump trades" is becoming increasingly popular among cryptocurrency traders.
Recently, the performance of this flagship cryptocurrency has been hindered by miner sell-offs and regulatory actions by authorities in the United States and Germany. The expected repayment of the Mt. Gox bankruptcy case has also exacerbated market volatility, causing Bitcoin to fall below $54,000 for the first time in months.
However, analysts remain optimistic that Trump's victory could lead to a significant increase in Bitcoin and could possibly reach another historical high in August and reach $100,000 on election day.
