What a Donald Trump Win Means for Crypto
We already saw some of that boost over the last few hours when Bitcoin notched a new all-time high alongside some substantial price action from other notable projects like $DOGE (+22.8% today alone) and $SOL (+15.4%).
Its worth noting that Dogecoin is still the OG memecoin. Its performance was right under SPX6900 for top gainers in the T100. Solana's price action shouldn't be unexpected either.
Why a Potential Donald Trump Presidency Precipitated a Market Run
This is due to the combined effect of the collective relief felt by the markets via avoiding Kamala's heavy-handed tax policies + Donald Trump's promise to do everything possible to incentivize positive market growth and the public perception that he is the candidate best suited to facilitate economic growth in the United States.
The news is also positive for the powers-that-be in the crypto space as well (i.e., exchanges) because enforcement against crypto during his administration was virtually non-existent. He's also not planning to arm the IRS with an unlimited war chest to hunt down folks in the crypto space that have failed to pay each and every single dollar they may owe the U.S. government from their dealings in crypto. The substantial hike in the capital gains taxation rate proposed by Kamala (or anything similar to it) likely won't crop up in a Trump presidency either.
Plus, DJT plans on extending the tax cuts he pushed for back in 2017 that were set to expire in 2025.
All of these things (among other factors) have culminated in a substantial boost to overall market sentiment. Also, Bitcoin notching a new all-time high and holding on to it is really fucking significant.
We already saw some of that boost over the last few hours when Bitcoin notched a new all-time high alongside some substantial price action from other notable projects like $DOGE (+22.8% today alone) and $SOL (+15.4%).
Its worth noting that Dogecoin is still the OG memecoin. Its performance was right under SPX6900 for top gainers in the T100. Solana's price action shouldn't be unexpected either.
Why a Potential Donald Trump Presidency Precipitated a Market Run
This is due to the combined effect of the collective relief felt by the markets via avoiding Kamala's heavy-handed tax policies + Donald Trump's promise to do everything possible to incentivize positive market growth and the public perception that he is the candidate best suited to facilitate economic growth in the United States.
The news is also positive for the powers-that-be in the crypto space as well (i.e., exchanges) because enforcement against crypto during his administration was virtually non-existent. He's also not planning to arm the IRS with an unlimited war chest to hunt down folks in the crypto space that have failed to pay each and every single dollar they may owe the U.S. government from their dealings in crypto. The substantial hike in the capital gains taxation rate proposed by Kamala (or anything similar to it) likely won't crop up in a Trump presidency either.
Plus, DJT plans on extending the tax cuts he pushed for back in 2017 that were set to expire in 2025.
All of these things (among other factors) have culminated in a substantial boost to overall market sentiment. Also, Bitcoin notching a new all-time high and holding on to it is really fucking significant.