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Donald Trump won: what changes for bitcoin and the markets?
By Daniele Corno
Now that Donald Trump is president again, investors are wondering about the future of the markets: Is bitcoin ready for the big rally?
Market welcomes Trump with growth prospects
Donald Trump is president of the United States again, and the market is welcoming him with positive performance.
In fact, the new president’s proposed fiscal stimulus, tax cuts and the introduction of new tariffs are pushing up U.S. stock markets and giving strength to the Dollar.
Expectations of market growth with the new fiscal policies are reflected in stock markets. Therefore, the U.S. market presses the accelerator, Standard & Poor’s 500 marks new highs, up also Nasdaq and Dow Jones. The performance of the day is marked by the Russell2000 up 5 percent. Small businesses are indeed the first to benefit from fiscal stimulus.
The expectation of a strong America against the rest of the world pushes the Dollar up. In fact, the DXY index marks +1.8% on the daily, putting major foreign currencies such as EUR and GBP in trouble, which lose 2% and 1.3% against the dollar, respectively.
Elon musk and Donald Trump
Donald Trump’s victory in the 2024 U.S. election was preceded by a strong push due to the collaboration and understanding between Elon Musk and the new president.
Indeed, many insinuate that without the use of X and the collaboration between the two, the outcome of this election would have been different. Leaving room for interpretation, what the market seems to be saying is that this is a winning pairing for the future of the United States.
Indeed, the next 4 years will be the result of major changes in the global economy.
The future is gonna be fantastic pic.twitter.com/I46tFsHxs3
— Elon Musk (@elonmusk) November 6, 2024
Is the bull run upon us? Here's what's changing for bitcoin
Bitcoin is among the most talked about topics in the market, the advent of Trump thus marks a watershed for the entire sector.
On the one hand, the appreciation of the dollar against other currencies acts as a brake for Bitcoin, while on the other hand, the fear of a growing deficit on debt leads the market to seek shelter.
This is therefore a key event for the future of Bitcoin, which with clear regulationsthat do not hinder development, can now aspire to an even more prosperous future.
Tomorrow night also, the Federal Reserve meets to decide the future of monetary policies, with the market pricing in a 25 basis pointinterest rate cut , signaling a further increase in liquidity.
Is this then thebeginning of the most anticipatedBull Run ever? The outlook opens the door to a Bitcoin price above 5 zeros, so all we have to do is wait.
