The “Trump Bump” Gave Bitcoin a Massive Boost. But Will it Last?
Donald Trump is known for fueling volatility in financial markets. When he won his first election, markets rallied off expectations of huge tax cuts and financial deregulation. Now, his second election victory is raising certain asset prices, with cryptocurrencies as one of the main beneficiaries.
Last year, the combined value of all digital currencies rocketed from $1.6 trillion to $3.29 trillion and Bitcoin, the industry’s poster child, hit a new high just above $100,000. Crypto prices began rising again toward the end of 2023. But the biggest gains were seen after Trump won the election following a campaign in which he promised to be the “crypto president.”
But the “Trump bump”—the surge in crypto asset prices at the end…
