Trump and Bitcoin: Market Expectations vs. Reality
After Trump returned to the White House, cryptocurrency enthusiasts had high hopes that he could drive up Bitcoin prices, but it did not meet expectations. Alice Liu from Coin Market Cap pointed out that the market sentiment was high at the beginning of Trump's presidency but quickly cooled down, due to uncertainties regarding his trade policies and investor disappointment with his meme coins.
Although Bitcoin reached a historic high of $109,225 on January 20, it has since dropped over 10%. Nevertheless, investors have recognized the regulatory changes under the Trump administration, as the SEC withdrew lawsuits against several crypto companies and established a cryptocurrency task force aimed at formulating a federal regulatory framework. Experts have suggested that these measures are beneficial for the industry, but their effectiveness will take time to manifest. The market hopes that the Trump administration will introduce more specific policies to promote the widespread adoption of digital assets.
Despite this, there is a significant correlation and influence between Trump and the crypto space. Meme coins associated with Trump are quite popular, especially the heroic dog Co nan, benefiting from Trump's strong IP and active community. Recently, its market cap briefly surpassed $10M but has slightly adjusted to around $6.4M, making it a great opportunity for entry and accumulation. The number of holders has exceeded 12.6K and continues to grow, showing great potential to become a dark horse in the bull market!
If anyone wants to gain further insights into the development of the entire crypto space and the meme sector, feel free to reach out to Meme交流區 for a discussion!
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