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 Cache 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, caches will be stored in your inventory and can be opened with Keys.

Other news

Bitcoin Futures Traders Abandon Crypto for Stablecoin Margin

chest

Bitcoin futures traders have largely abandoned using Bitcoin as collateral for their positions, opting for stablecoin-backed positions to avoid risks associated with price drops.

user avatarFilippo Romano

Gold Prices Surge to Three-Month High

chest

Gold prices surged to a three-month high, reaching $4,696.18 an ounce, driven by a weaker dollar and falling Treasury yields.

user avatarEmily Carter

BNB Smart Chain Set to Activate Pasteur Hard Fork

chest

BNB Smart Chain is set to activate its Pasteur hard fork on August 25, introducing significant network changes.

user avatarKaterina Papadopoulou

TAC Halts Block Production Due to Supply Exploit

chest

TAC, a Cosmos-based EVM sidechain connected to the TON ecosystem, has halted block production after a supply-related exploit.

user avatarTomas Novak

The Need for Reliable Data in Real Estate Tokenization

chest

The need for reliable pricing data in real estate tokenization is crucial due to the unique challenges it faces compared to liquid crypto assets.

user avatarMaya Lundqvist

TON Foundation to Permanently Shut Down Legacy Bridge on September 1

chest

The TON Foundation has confirmed the permanent shutdown of its legacy bridge on September 1, requiring users to transition their wrapped TON and related assets back to native forms.

user avatarLeo van der Veen

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.