Trump’s Bitcoin victory lap – Says ‘you’re welcome!’ after Bitcoin hits $100K

• Trump celebrated Bitcoin’s $100k milestone, attributing the surge to his affect on crypto insurance policies
• Analysts predict a possible slowdown in Bitcoin’s rally after Trump’s inauguration in January 2025

Bitcoin [BTC]’s unprecedented surge previous the $100,000-level has sparked celebrations throughout the crypto group. Nevertheless, it wasn’t simply fanatics reveling within the achievement.

President-elect Donald Trump joined the highlight, taking a victory lap on 5 December whereas attributing BTC’s historic worth rally to his affect.

Trump on Bitcoin hitting a brand new milestone

In a submit on the Reality Social platform, Trump expressed his pleasure and stated, 

“CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!!” 

He added, 

“Collectively, we are going to Make America Nice Once more!” 

Evidently, all through his 2024 election marketing campaign, Trump made a number of guarantees aimed toward remodeling the crypto panorama in the US. 

His pro-crypto place fueled optimism among the many group, with many anticipating BTC’s rise to $100k.

And, to everybody’s nice shock, Bitcoin on 5 December surpassed this milestone, briefly climbing to round $102K.

Nevertheless, the thrill was tempered because the cryptocurrency quickly skilled a pullback. On the time of writing, it was buying and selling at $97,905.96, following a +2% drop within the final 24 hours.

Trump’s standing by his phrases to make U.S crypto-friendly

Moreover, consistent with his pro-crypto guarantees, Trump has beforehand vowed to fireplace SEC Chair Gary Gensler. Latest developments appeared to verify his dedication to reshaping U.S. crypto coverage.

Trump has chosen Paul Atkins, a distinguished crypto advocate and former SEC Commissioner beneath President George W. Bush, to take the function of the brand new SEC Chairman.

Moreover, the President has additionally made a daring transfer by appointing former PayPal COO David Sacks because the “White Home A.I. & Crypto Czar,” signaling a major shift within the nation’s strategy to cryptocurrencies. 

Therefore, Trump’s actions exhibit his dedication to fulfilling his pro-crypto guarantees, signaling a shift in direction of a extra crypto-friendly U.S. setting.

Nevertheless, because the 2024 election cycle progresses, some analysts predict a possible slowdown in market momentum.

In reality, historic traits, backed by analysis from Bloomberg and Macrobond Monetary, counsel that whereas U.S. markets, together with Bitcoin, typically document a surge following presidential elections, the rally tends to lose steam as soon as the newly elected president assumes workplace.

And, thus the apparent query arises – Will Bitcoin see a significant correction post-Trump’s inauguration on 20 January 2025?