Report: Trump 2024 Victory May Drive Year-End Bitcoin Price Surge

According to the Financial Times, crypto traders and experts are betting that a Donald Trump win in November may raise Bitcoin prices.

Despite anticipation of a post-Halving recovery, BTC has suffered since April due to US and German authorities selling confiscated assets and the overhang of $9 billion in Bitcoin and Bitcoin Cash (BCH) sales from Mt Gox.


Market investors are actively considering a “Trump trade” that might raise Bitcoin prices in the second half of the year.

Trump's Win May Spark Price Recovery
The Bitcoin price has dropped almost 20% in the last month after the April Halving event, which halved miners' daily BTC supply.

This poor performance is due to authorities selling approximately $15 billion worth of BTC in recent weeks and hedge funds damping volatility with the BTC basis trade. Traders and experts are looking for the next Bitcoin price surge.

According to the Financial Times, market confidence in a Trump triumph in the US elections is rising. Given his enthusiasm for bitcoin and acceptance of crypto donations, traders and analysts see Trump as a pro-crypto candidate.

Industry leaders expect clearer crypto laws under a Trump administration and a strong Republican Congress.

According to Julius Baer analyst Manuel Villegas, Trump's energy policy plans may assist crypto mining enterprises by providing alternate energy sources for Bitcoin mining.


A “Trump trade” and its influence on BTC's momentum rely on Trump's election opponent. RealClearPolitics Betting Average shows Trump at 55% and Biden at 16.5%.

If Biden runs, BTC bulls may be invigorated. The article cautions that Bitcoin prices may stay low if a fresh contender challenges Trump.

Narratives and perceptions drive the crypto market, and if enough people believe in a Trump win, Bitcoin may rise.

#BinanceTurns7 #Binance #Bitcoin $BTC