The #cryptocurrencymarket is maintaining a bullish trend, with bitcoin setting higher highs while leading altcoins like Ethereum ($ETH
) and Tron ($TRX
) are capitalizing on it. Ethereum is now making a fresh attempt to reach the long-lost $3000 level after registering over 5% gains today and is trading at $2950.
Notably, the market-wide uptrend has continued for four consecutive days and market sentiment is now at a “greed” level. However, #JustinSun , founder of blockchain network Tron, believes there is more room for further upside.
It's not time to sell, keep buying and building
In a recent tweet, Sun expressed optimism about the current state of the crypto market, especially with regards to Ethereum.
Citing improvements in macroeconomic policy, Sun expressed confidence that the market's outlook is improving, suggesting that now is the ideal time for investors to focus on “accumulating and building” rather than selling off assets.
For context, the crypto industry is expecting the emergence of a transparent and favorable crypto policy now that the crypto-friendly Donald Trump has been elected President of the United States. Crypto Basic recently drew attention to Trump's seven major campaign promises.
Trump promised to remove SEC Chairman Gary Jensler, whose tough stance on cryptocurrencies has drawn criticism. He also proposed the creation of a National Bitcoin Reserve, suggesting that bitcoin could be used to reduce the U.S. national debt. To further boost the cryptocurrency sector, Trump promised to make the US the crypto capital of the world with pro-business regulation.
He also pledged to introduce clear, fair cryptocurrency regulations and create a cryptocurrency advisory board to guide policy. Another key promise is to protect the right to self-storage, allowing Americans to control their crypto assets without third-party platforms.
Finally, Trump expressed his opposition to central bank digital currencies (CBDCs), promising to block their development to protect financial privacy.
These promises signal potential major changes in the U.S. crypto industry once Trump takes office on January 20, 2025.