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Gate Research: Donald Trump's Victory - Crypto on the Rise

Gate Research: Donald Trump's Victory - Crypto on the Rise

11/22/2024, 10:46:13 AM
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This paper explores Trump’s 2024 victory and its impact on the crypto market. His pro-crypto policies, Bitcoin ETF approval, and institutional support have driven price surges. Promises to ban CBDCs, support Bitcoin mining, and lower taxes position him as the first pro-crypto president, with Bitcoin projected to hit $100K by 2024’s end.

Key Takeaways

Widespread Crypto Ownership: Over 20% of Americans now own cryptocurrencies, underscoring the substantial influence of digital assets on the 2024 U.S. presidential election.

Bitcoin ETF Approval Boost: The approval of the Bitcoin Spot ETF has significantly heightened public interest and institutional engagement in the cryptocurrency market.

Trump-Bitcoin Correlation: Donald Trump’s victory has exhibited a strong positive correlation with Bitcoin’s price movements, attributed to his pro-crypto stance and campaign promises.

First Pro-Crypto President: Trump’s pledges, including banning CBDCs and supporting Bitcoin mining, make him the first openly pro-crypto president in U.S. history.

Economic Policies Favoring Bitcoin: Trump’s proposed lower tax rates and tariff policies are expected to create an inflationary environment, potentially driving Bitcoin prices higher as a hedge against fiat devaluation.

Institutional Inflows and Sentiment Shift: Consecutive net inflows into Bitcoin ETFs and reduced short positions in CME Bitcoin futures highlight growing institutional confidence post-election.

Analyst Projections: Market experts and on-chain data suggest Bitcoin could reach $100,000 by the end of 2024, driven by favorable macroeconomic and regulatory conditions.

Historical and Geopolitical Context: The interplay of historical election cycles, Bitcoin halving events, and global economic uncertainties further supports the argument for a sustained bull market in crypto assets.

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Author: Elven
Translator: Sonia
Reviewer(s): Addie、Edward、Wayne
Translation Reviewer(s): Ashely、Joyce
* The information is not intended to be and does not constitute financial advice or any other recommendation of any sort offered or endorsed by Gate.
* This article may not be reproduced, transmitted or copied without referencing Gate. Contravention is an infringement of Copyright Act and may be subject to legal action.
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Key Takeaways

Crypto Calendar

Project Updates
Etherex will launch the token REX on August 6.
REX
22.27%
2025-08-06
Rare Dev & Governance Day in Las Vegas
Cardano will host the Rare Dev & Governance Day in Las Vegas, from August 6 to 7, featuring workshops, hackathons and panel discussions focused on technical development and governance topics.
ADA
-3.44%
2025-08-06
Blockchain.Rio in Rio De Janeiro
Stellar will participate in the Blockchain.Rio conference, scheduled to be held in Rio de Janeiro, from August 5 to 7. The program will include keynotes and panel discussions featuring representatives of the Stellar ecosystem in collaboration with partners Cheesecake Labs and NearX.
XLM
-3.18%
2025-08-06
Webinar
Circle has announced a live Executive Insights webinar titled “The GENIUS Act Era Begins”, scheduled for August 7, 2025, at 14:00 UTC. The session will explore the implications of the newly passed GENIUS Act—the first federal regulatory framework for payment stablecoins in the United States. Circle’s Dante Disparte and Corey Then will lead the discussion on how the legislation impacts digital asset innovation, regulatory clarity, and the US’s leadership in global financial infrastructure.
USDC
-0.03%
2025-08-06
AMA on X
Ankr will host an AMA on X on August 7th at 16:00 UTC, focusing on DogeOS’s work in building the application layer for DOGE.
ANKR
-3.23%
2025-08-06

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