Trump’s Win Pushes Bitcoin Past $80K, but Can It Keep Climbing?

When Donald Trump won the US Presidential elections, we saw Bitcoin (BTC) surge to a new record high, and the upward momentum has continued since then. How long can it keep going?

Investors are worried that the market will collapse soon due to the creation of a market bubble. If prices jump too fast and too high over a short period of time, then there is some risk of the market plummeting afterwards.

A further concern is that the current bullish movement will stop abruptly, perhaps not declining dramatically but simply losing steam. This could be bad for Bitcoin as well, since it could cause a loss of consumer confidence in the currency.

The Regulatory Battle

Strict regulations around the world keep Bitcoin from achieving its true potential. In Russia and China, Bitcoin and the wider crypto market are highly regulated. In the US, restrictions have eased since January of this year. That was when crypto ETFs were introduced, which brought considerable cash flow into the crypto market and helped give both Ethereum (ETH) and Bitcoin significant boosts.

There is hope that with Trump as President that regulations will ease even further and crypto will become even more accessible. Trump has stated multiple times during his presidential campaign that he will be the crypto President. He has made specific promises about how he will promote and protect crypto, creating a token reserve for the government and using his project World Liberty Financial to make crypto more accessible.

If he really does preserve the freedom of crypto investors, exchange platforms, and crypto developers, then that could cause Bitcoin and other crypto tokens to surge to new highs. It is this promise of more sensible regulations and government promotion that is causing Bitcoin to soar right now.

Bitcoin is currently at $86,309 (BTC) and climbing. The token is up by 5.5% today and 25% over the last week. These are incredible numbers that we have rarely seen for the coin, and the rest of the market is seeing similar surges.

Can the Surge Continue?

The biggest question about the bullish market is how long it will continue for. There are a number of factors in its favor at the moment, including the recent Fed interest rate cut. On top of that, Bitcoin was already primed for market growth thanks to the success of the Bitcoin ETFs as well as the recent Bitcoin halving. We have been saying that it would not take much for Bitcoin to take off, and it certainly has.

We expect Bitcoin to slow down soon, but perhaps not reverse course. The coin should surge again (along with the rest of the market) around January 20^th when Trump is officially sworn in. This is definitely an investors market right now, and there are no strong reasons why we should anticipate a significant reversal.