Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Trump's election plans to include BTC in the national strategic reserve: good for BTC, skeptical of ETH

Trump's election plans to include BTC in the national strategic reserve: good for BTC, skeptical of ETH

CointimeCointime2024/11/07 11:55
By:Cointime

On November 7th, with Trump's election, the global cryptocurrency market saw a significant change in sentiment. Many experts believe that Trump's policy of embracing BTC will have a positive impact on BTC and is expected to push for its adoption as a national strategic reserve. However, he has not shown the same interest in Ethereum (ETH) and has even expressed skepticism about its development prospects on some occasions, which is undoubtedly a moment of disappointment for long-term holders of ETH.

Under Trump's leadership, the cryptocurrency market will return to a preference for BTC's value storage properties, while Ethereum's decentralized applications and smart contract functions may face greater regulatory pressure. In particular, ETH's shift from Proof of Work (PoW) to Proof of Stake (PoS) has not only led to a split in community consensus but also led to long-term low prices and significantly reduced its market attractiveness.

Many experts believe that Trump's election undoubtedly injected a shot in the arm for the cryptocurrency market led by BTC, but current ETH holders need to re-evaluate their holdings, and long-term holders may need to significantly reduce their holdings to cope with future market fluctuations. With a large number of holders reducing their holdings, ETH's price will inevitably face severe fluctuations.

Investors should closely monitor market trends, adjust their strategies in a timely manner, and seize the opportunities and challenges that are about to come.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Trump and Wall Street: How long will the love affair last?

Share link:In this post: Wall Street loved Trump’s win at first—stocks jumped, Bitcoin soared, and borrowing costs hit rock bottom, but some sectors started cracking fast. Tax cuts and deregulation made financial and energy stocks shoot up, but tariffs and plans to deport workers freaked out economists and markets. Tariffs mean higher prices for Americans, and even Walmart’s warning it’ll have to raise prices if Trump pushes through with his trade war.

Cryptopolitan2024/11/24 03:44