Trump's Win Isn't the Key Factor in Bitcoin's Rise

user avatar

by Giorgi Kostiuk

2 years ago

Amid recent political events in the USA, analysts emphasize that Bitcoin's price rise is not solely due to this factor. The focus is primarily on post-halving and its market impact.

Post-Halving and Supply Shortage

The Bitcoin halving in April reduced block rewards from 6.25 BTC to 3.125 BTC, creating tougher mining conditions and a supply shortage. Jesse Myers stated that the situation demands a supply-demand price restoration, achievable only by a price increase.

Comparison with the Gold Market

Analyst James Check compared Bitcoin's market cap with gold, noting that gold has added around $6 trillion in the past year, while Bitcoin remains a scarce asset with a $1.6 trillion market cap.

Experts' Opinions and Future Forecasts

Financier Anthony Scaramucci expressed confidence that the US will establish a strategic Bitcoin reserve, with other countries likely to follow. He pointed that it's not too late for investment, foreseeing significant future price rises.

Thus, the analysis shows that the primary factors for Bitcoin's rise are internal market mechanisms rather than foreign policy. Supply shortages and previous post-halving examples create conditions for further growth.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Chainlink Releases Version 2640 for Node Operators

Chainlink has launched version 2640, focusing on infrastructure improvements for oracle nodes.

user avatarRajesh Kumar

Aptos Labs Releases Validator Node Hotfix to Ensure Network Stability

Aptos Labs has released a hotfix for validator nodes to address consensus and statesync issues in the mainnet infrastructure.

user avatarMiguel Rodriguez

Offchain Labs Releases Nitro v3114 for Arbitrum Node Operators

Offchain Labs has released Nitro v3114, a maintenance update for Arbitrum node operators, focusing on reliability and routine improvements.

user avatarLuis Flores

Lido DAO Completes Significant Governance Package

Lido DAO has successfully executed Aragon Vote 205, implementing key governance changes.

user avatarArif Mukhtar

Aave Moves Closer to Adding Ethena's USDe to V4 Core Market

Aave is progressing towards the integration of Ethena's USDe into its V4 core market on Avalanche after a risk review.

user avatarMaria Gutierrez

Aave Governance Considers Adding Regulated Euro Stablecoin EURCV

Aave governance is evaluating the proposal to add the regulated euro stablecoin EURCV to its Ethereum market.

user avatarDavid Robinson

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.