- Pro-crypto candidate Donald J. Trump secures US Presidential election win.
- Bitcoin historically has pumped after every US Presidential election.
- BTC already set a new ATH and will likely enter the price discovery phase very soon.
The US Presidential elections have always been a crucial factor to Bitcoin (BTC) and the greater crypto market. So far, every Bitcoin Halving year has coincided with the US Presidential elections, and so far, every election’s outcome has influenced a Bitcoin and crypto market pump.
Trump Claims 2024 US Presidential Victory
The latest US Presidential Election has brought victory to returning President Trump. Trump’s 2024 US Presidential election win has fueled highly bullish sentiment for the crypto market. Before the election, predictions for a Bitcoin pump were inevitable despite a Harris or a Trump victory.
However, the timing for a Bitcoin and crypto pump indicated that a market pump would arrive sooner if Trump takes victory over Harris. Now, it seems that this scenario is playing out as pro-crypto candidate Trump stands victorious as the US Presidential elections have been officially announced.
Will Trump Fulfill His Pro-Crypto Promises?
Trump’s support for pro-crypto regulations is so strong that in the midst of the voting process, Bitcoin pumped to set a new ATH at $75,011 to mirror Trump’s lead in the race. This support from Bitcoin all but predicted Trump’s win in the race. Presently, the crypto space on TwitterX is filled with celebrations as seasoned analysts expect Bitcoin to enter price discovery phase.
We’re ready to call it.
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Voters have elected a majority (218+) of pro-crypto candidates to the U.S. House of Representatives, even with many more seats still left to be called.
The next Congress will be the most pro-crypto ever. Follow along at: https://t.co/likkbALcuW pic.twitter.com/4k3T07htrIgoogle news — Stand With Crypto🛡️ (@standwithcrypto) November 6, 2024
However, a battle for more pro-crypto regulations may still be on the challenging side as anti-crypto Warren wins Senate seat over pro-crypto candidate John Deaton. Yet, hope still shines stronger for the crypto community as the next Congress seems to be filled with pro-crypto candidates.
Thus, with more representation in the US House of Representatives and with President Donald J. Trump at the helm, the USA might just become a major crypto hub over the next four years. If Trump follows through on his promises, Bitcoin (BTC) could certainly see epic new ATHs in the coming months.
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