Although I've been in crypto for many years, I rarely experienced such a heavy bullish sentiment like today.
Trump's success pumped Bitcoin almost 9% intraday. Even after some first profit takings, BTC is still up 6% when writing. At the same time, we have many memecoins and altcoins rallying 20%-30%.
What an incredible day!
However, the most critical rule you should follow is "don't FOMO."
If you weren't positioned, today is not the day to buy.
As mentioned yesterday, in terms of trading, if you’re fortunate enough to catch a quick profit, consider exiting. After the dust settles, prices often revert to prior levels, and those windfalls can fade. It’s better to lock in gains than hope for sustained moves.
Trump's Success Is Bullish — Garnished With Questions Marks
While Trump's success is definitely a bullish sign for crypto, the equation Trump = Bitcoin pumping (in the long run) is way too oversimplified.
In fact, it is likely that the Trump administration will adjust the crypto legislation. As the most important crypto market, the U.S. will become a crypto-friendly environment. This can't be underestimated!
Moreover, based on the related hype, there's a good chance that the prices will soar during the next weeks and months.
Nevertheless, many other aspects impact the crypto industry. One of them is Trump's protectionist economic strategy. It's hard to forecast how this will play out in the end and how the world economy will be impacted. However, a negative impact on the world economy seems likely at this point. Ultimately, this could be bearish for the crypto market too.
Trump Doesn't Operate in Vacuum
Here's another fact that should not be overlooked.
While it will be good to have a pro-crypto American president, this alone won't sustainably push the crypto market to new heights. That's why I don't like those overly simplified posts: "If Trump wins, Bitcoin will go to x (enter your desired value larger than $100,000)."
The world is much more complex: Looming recession in some European countries, tensions in the Middle East, China's monetary strategies, etc. — this list is endless. Therefore, thinking that one person can sustainably pump markets is illusory.
An Amazing Day, But Let's Keep Working!
Overall, it's fantastic to witness the market’s response! It’s rare when such a strong bullish sentiment takes hold across the board.
But let’s keep our perspective. With our impressive gains, some profit-taking is likely just around the corner; it’s a natural response to any rapid price surge. I do believe we’ll continue to see an upward trend over the coming weeks, but one election alone won’t sustain a prolonged market rally.
This event, however, might be the spark we’ve been waiting for, igniting broader optimism and fueling the next phase of this cycle.
Overall, I’m bullish on what lies ahead. But, as always, it’s essential to monitor all the moving parts—from global economics to geopolitical shifts and regulatory updates.
Nothing in this market operates in isolation, and while days...... Have a nice day, be happy guys.
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