The Donald Trump news.
Bullish or the biggest rug pull in crypto history?
What you might NOT know.
Many crypto Bulls will use this news as confirmation bias for another parabolic bull run(I’m a bull too)
Trumps campaign accepts Crypto donations🚀
I said in a post yesterday that if $BTC hits new ATH I will convert 80% of my holdings to USDT until December, this news doesn’t change that.
Firstly Trump already has a crypto portfolio and has sold $ETH before for millions of dollars,all profit, Trump has received his total crypto portfolio through donations from supporters and also tokens using his name(he doesn’t endorse any)
Trump has never said he has purchased crypto,when asked he has actually denied buying into anything.
Trump has only recently changed his stance on Crypto he has always been a 1 currency believer, THE USD!
Leading up to this election and with other politicians anti-crypto stance, Trump has seemed to switch sides and backed crypto, making this a Pro or Anti crypto election campaign.
Trump has also stated he will make day 1 policy moves that will impact crypto! ( We don’t know yet what this will be)
I will sound very pessimistic or even borderline paranoid by saying this but it’s worth noting, Trump has never officially endorsed or given what his policy would be, he could switch sides if elected and crash Crypto and so could Biden if re elected, for large holders and funds with insider knowledge this could be a perfect chance to cash out,short, and wipe out 10s of Billions in liquidity(your money)and walk away clean and blameless.
Should you panic? NO !
I would advise monitoring this election closely the closer it gets if you have a large portfolio(based on your financial situation), we need concrete confirmation of either candidates stance on Crypto before making any decision.
The closer it gets without any real direction or policy being proposed the more I will want to take profits and wait.
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