\u201cIf Trump wins, I believe Bitcoin could hit $100,000 during his second term.\u201d<\/p><\/blockquote>\n
Pseudonymous crypto market analyst and trader Crypto Rand told Cointelegraph, \u201cThe most bullish aspect of the Trump administration is simply his non-hostile stance toward cryptocurrencies. This attitude alone is a game-changer and sets the US up to be a leader in the crypto space.\u201d<\/p>\n
Not everyone is convinced, such as American businessman and Shark Tank<\/em> star Mark Cuban, who has lobbied Democratic nominee Vice President Kamala Harris\u2019 campaign for more crypto-friendly policies. He told Cointelegraph that if Trump wins, the crypto markets will likely \u201cpump for a few weeks\u201d before descending again. He argued that Trump\u2019s economic policies are inflationary, which could hinder Bitcoin price action.<\/p>\n Trump has promised many pro-crypto policies that appeal to crypto single-issue voters.<\/p>\n One of the big ones is that he has repeatedly asserted that he would fire US Securities and Exchange Commission Chair Gary Gensler \u201con day one\u201d of his presidency.<\/p>\n [embedded content]<\/p>\n Experts say while he may not be able to do this directly, he could likely demote Gensler to a mere commissioner and then nominate a new candidate aligned with his policy preferences. Still, the US Senate would have the final say.<\/p>\n Recent: <\/strong><\/em>$556M in spot Bitcoin ETF inflows signals major shift in investor sentiment<\/strong><\/em><\/p>\n Basel Ismail, CEO of investment analytics platform Blockcircle, said a new SEC chair supportive of crypto would bolster Bitcoin\u2019s adoption and pave the way for a resurgence of altcoins.<\/p>\n Several altcoin exchange-traded funds (ETFs) awaiting SEC approval were filed prior to the US elections, with XRP (XRP) and Solana (SOL) emerging as potential frontrunners.<\/p>\n Bloomberg ETF analyst Eric Balchunas previously told Cointelegraph that Trump could appoint \u201ca new SEC commissioner who doesn\u2019t care\u201d about the processes followed in recent years, where futures data has played a crucial role in the spot ETF approval process. He concluded:<\/p>\n \u201cIf Trump wins, we could see other coins as ETFs, in my opinion.\u201d<\/p><\/blockquote>\n Trump\u2019s pro-crypto promises are numerous and ambitious, with a stated vision for the US to become \u201cthe world capital of crypto.\u201d Crypto Rand believes that while Trump\u2019s commitment to creating a crypto advisory council may have flown under the radar, it is highly significant.<\/p>\n He believes Congress and the SEC have repeatedly demonstrated their lack of understanding of the crypto industry and its dynamics. A proper commission with industry experts would help advise and create more appropriate regulations.<\/p>\n Finman said Trump\u2019s commitment to reducing regulatory hurdles would liberate the crypto industry, attracting significant investments in crypto companies.<\/p>\n Alex Thorn, head of research at Galaxy Digital, believes that clarifying the regulations around cryptocurrencies could benefit altcoins more than Bitcoin.<\/p>\n He argued that Bitcoin\u2019s current high market dominance is linked to its favorable regulation compared to altcoins. If Trump were to implement his proposed crypto policies, altcoins could potentially surge and even outperform Bitcoin.<\/p>\n Finman believes that Trump\u2019s election would be a \u201crising tide that lifts all boats,\u201d but Crypto Rand thinks gains would be concentrated in artificial intelligence and decentralized physical infrastructure networks (DePIN), saying they\u2019re \u201cthe ones with more odds to lead the market pump.\u201d<\/p>\n Ismail said that decentralized finance (DeFi) and memecoins markets would benefit from Trump\u2019s victory, as Trump has been actively promoting his new DeFi project, World Liberty Financial (WLFI), which is to be integrated with Aave.<\/p>\n And Trump is something of a walking meme himself. Ismail pointed out that Trump \u201cholds multiple memecoins in his personal wallets,\u201d having received many of them through airdrops.<\/p>\n Some observers believe that Trump\u2019s broader economic policies could also benefit the crypto space. Finman said that lowering capital gains taxes would boost investment incentives, fueling growth in the crypto industry.<\/p>\n However, not all of his proposals are likely to help crypto, argued Cuban. He thinks Trump\u2019s economic policies are inflationary and would harm crypto, especially the unprecedented tariffs he would apply in the US.<\/p>\n On Oct. 15, Trump called tariffs \u201cthe most beautiful word in the dictionary\u201d at The Economic Club of Chicago. He doubled down on his promise to apply at least a 10% blanket tariff on all imports and tariffs as high as 60% on goods from China.<\/p>\n Cuban believes that Trump\u2019s tariffs would increase inflation, eventually \u201ccausing interest rates to go up, which hurts crypto.\u201d<\/p>\n Trump may now portray himself as pro-crypto, but long-time observers of the crypto market will remember that he didn\u2019t support Bitcoin or altcoins during his former presidential term.<\/p>\n At the time, he said crypto was \u201cbased on thin air\u201d and even called it a scam on Fox News.<\/p>\n Recent: <\/strong><\/em>Quantum computer \u2018threat\u2019 to crypto is exaggerated \u2014 For now<\/strong><\/em><\/p>\n Finman said that Trump \u201cwas born around World War II, so it\u2019s understandable he didn\u2019t get Bitcoin at first.\u201d He believes Trump\u2019s sudden U-turn may be positive, as it demonstrates \u201che\u2019s persuadable\u201d as well as \u201copen-minded and willing to adapt when presented with new information.\u201d<\/p>\n Crypto Rand conceded that Trump\u2019s embrace of crypto may not be completely sincere and views it as \u201copportunistic\u201d \u2014 Trump has seized a huge opportunity to gather new support and another source of campaign funds.<\/p>\n However, \u201cTrump has proven several times to be an excellent businessman,\u201d said Crypto Rand, and \u201cadapting to new trends, changing your mind and identifying upcoming world-changing industries is part of the required skillset.\u201d<\/p>\n Check other news for today<\/span> and Please stand by..<\/p>\n *********************************<\/p>\n If one of the paying programs on our Monitor appeals to you, please support EmilyNews<\/em> by registering for it on our website. Thanks very very much!<\/p>\n EN web Support Chat<\/strong> | Hyips and Crypto questions \u2013 HyipChatEN<\/a><\/strong><\/p>\n Telegram Chat for Crypto and Hyip reports: @HyipChatEN<\/a><\/strong><\/p>\n *********************************<\/p>\n Be the first to get most important HYIP news everyday! If you like this article and want to support EN \u2013 please share it by using at least few of social media buttons below. Thanks and See you tomorrow!<\/p>\nWill Trump\u2019s pro-crypto policies boost Bitcoin and altcoins?<\/h2>\n
How will his non-crypto policies affect crypto?<\/h2>\n
Will Trump continue his pro-crypto stance?<\/h2>\n
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