Donald Trump News / Will Bitcoin cross $1 lakh? The future of crypto is hidden in Trump's victory

Donald Trump News: Ever since the attack on former President of the country and Republican Party candidate Donald Trump, there has been a discussion not only in America but all over the world that Donald Trump can once again take over the power of the world's largest economy. This attack and the expectations of Trump's victory are being discussed on social media all over the world. By the way, the main issue of our discussion is not Donald Trump or his victory but cryptocurrency and the boom in it.

The way the expectations of Trump's victory have increased after the attack on Trump. There is an atmosphere of boom in the cryptocurrency market. The price of the world's largest cryptocurrency Bitcoin has seen an increase of more than two and a half percent. At the same time, there has been a boom in other virtual currencies as well. Out of the top 10 cryptocurrencies, 8 are seeing an increase and this increase is up to 5 percent.

Now the biggest question is why there is such a boom in the crypto market? According to experts, the higher the expectations of Trump's victory, the more it will increase. The cryptocurrency market will grow with that much speed. Donald Trump is considered a big supporter of cryptocurrencies. Last month, he himself has admitted that the crypto market in America can grow a lot. On the other hand, in his election campaign, he is also accepting crypto as a donation.

The special thing is that cryptocurrency also has a share in his investment portfolio. In such a situation, if Donald Trump returns to power again, then cryptocurrency can see a boom again. Also, the price of the world's largest cryptocurrency bitcoin can also cross one lakh dollars. In such a situation, it can be said that Trump's victory can decide the future of cryptocurrency. Let's try to understand this in the language of figures.

Bitcoin created a ruckus during Trump's tenure

If we talk about Trump's tenure, from 20 January 2017 to 20 January 2021, the price of the world's largest cryptocurrency bitcoin saw an increase of about 40 times. When Donald Trump came to power in America, that is, on January 20, 2017, the price of bitcoin was $ 892.9. When he left his post on January 20, 2021, the price of bitcoin was $ 35,476.3. It is clear that during this period, bitcoin gave investors a return of about 3900 percent. It is clear that Donald Trump's tenure did not come in the way of the cryptocurrency market, bitcoin or any virtual currency.

Only 70 percent return during Biden's tenure

On the contrary, Joe Biden's tenure is not over yet. But during this time, only 70 percent growth has been seen in the cryptocurrency market and bitcoin. The special thing is that since 2021, the price of bitcoin had crossed $ 75000 in mid-March this year.

If we consider that as a basis, then Bitcoin has given investors a return of only about 114 percent from 20 January 2021 to its lifetime high. This means that more than double the increase has been seen. Behind this, it is important to see the strictness of the Biden government on cryptocurrency, the impact on cryptocurrency prices due to the increase in the dollar index due to the increase in policy rate and all other reasons.

Trump likes crypto currency

Why and how is the bright future of cryptocurrency hidden in Trump's victory? You can also clearly understand this by looking at Trump's investment portfolio. According to the report of blockchain intelligence firm Arkham, by May 2024, Donald Trump has invested $ 10 million in cryptocurrency. In such a situation, Trump's presence in cryptocurrency can make bitcoin and other virtual currencies even stronger in the future.

According to Arkham's report, Trump has 579,290 holdings of Maga Memcoin. Whose value was $ 8.56 million on May 29, currently the value of Trump Memcoin is around $ 8, which has increased by 23 percent in the last 24 hours. The special thing is that on May 29, the price of Memcoin was more than $ 14.

On the other hand, according to Arkham, Donald Trump has 464.2 holdings. Whose value was $ 1.79 million at the end of May. Currently, the price of Ethereum is $3,193.73 and it has seen a rise of 1.27 percent. On the other hand, there is also Trump's MVP memecoin.

By the end of May, its valuation was $4.73 lakh. Currently, the price of this memecoin is $0.260, which was $0.709 on May 17. This means that its value has also declined. In the last 24 hours, it has seen a rise of about 10 percent.

Will bitcoin cross one lakh dollars?

Now the biggest question that has arisen is whether bitcoin will cross one lakh dollars? Its expectations have been made for many months. According to experts, if Donald Trump comes to power, then there will be a rise in the price of bitcoin. After which the price of bitcoin can cross one lakh dollars in the next one year. We should also not forget that the US Central Bank Fed Reserve may cut interest rates once or twice in the current year. The effect of which will be seen in the price of bitcoin. Next year also the Fed may cut rates 3 to 4 times. On the other hand, if Trump takes power on 20 January 2025, then bitcoin can become a rocket. In such a situation, in the presence of Fed and Trump, the price of bitcoin can be one lakh dollars.