May 26, 2024 Grandpa checks in
Trump promised at the Libertarian National Convention that if he is re-elected as president, he will commute the sentence of Ross Ulbricht, the founder of the Silk Road, on the first day. The latter created the Silk Road, which is recognized as the first real use case of Bitcoin, where Bitcoin can be used for illegal transactions. Ross was sentenced to two life sentences plus 40 years in prison.
Before the speech that day, Trump praised the crypto industry on social media and said that he would fully support it. On the contrary, Biden wanted to "kill" the industry. It has to be said that Trump seems to have mastered the traffic password of the crypto industry, and this way he will definitely win the support of the crypto crowd. Biden does not support the crypto industry, but even so, many policy-friendly measures have emerged. It can be seen that if a crypto-friendly president comes to power later, it will bring us great possibilities.
As far as the market is concerned, if Trump really does what he wants and keeps his promise, a lot of money will flow into the crypto industry after the election, especially now that the BTC and ETH ETFs have been approved, the channel problem has been solved, and the next step is to allow more funds to enter.
Recently, Ethereum has just experienced a round of rise, and this amplitude must be participated by real funds, so the probability of falling back directly in the short term is very small, so there are spot stocks that can continue to be held or some high-selling and low-buying. As for the subsequent direction, it depends on the breakthrough of Bitcoin on the pressure level. If the attack is long-term, Ethereum may continue to follow after sideways fluctuations.
Thank you for your attention and likes.
