Why Trump presidency may turn out beneficial for Bitcoin long term

[springgers]

The problem with China is the wages, they pay a low salary and this reflect in the world economy.

I don't think it will reflect in some way in bitcoin, USA isn't a power when you talk about bitcoin.

[1714946710]

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[tee-rex]

Among his many campaign promises as a candidate for the US presidency, Donald Trump has also been promising to close the US markets for the Chinese goods, at least partially. That, according to him, will help restore American jobs that he accused China of stealing. If he ever lives up to his promises and actually does something to that tune, it will certainly cause further devaluation of Yuan, the national currency of China. But the Yuan devaluation seems to be one of the primary drivers behind the growth of Bitcoin for the last two years, along with the reward halving.

What are your opinions on the consequences of his economic policy in regard to Bitcoin and its price in the long term?

Miners can be affected if Trump's plans succeed in decreasing China's economy but still Bitcoins depend on US dollars rather than any other currency and currently, I can see the bitcoin price only increasing.
Yuan is again dependent on US currency and their economy is anyways slow. Don't think Trump can succeed in harming its economy.

I tend to disagree that Bitcoin is somehow dependent on US dollars. You just happen to see it denominated in dollars, and that's why you come to think it depends on it. Regarding the Yuan depending on the US currency, this is simply meaningless. Chinese economy greatly depends on the American markets because of the Chinese exports to the US, but it cuts both ways, anyway. I could just as well claim that the US dollar depends on the Chinese Yuan.

[freedomgo]

Among his many campaign promises as a candidate for the US presidency, Donald Trump has also been promising to close the US markets for the Chinese goods, at least partially. That, according to him, will help restore American jobs that he accused China of stealing. If he ever lives up to his promises and actually does something to that tune, it will certainly cause further devaluation of Yuan, the national currency of China. But the Yuan devaluation seems to be one of the primary drivers behind the growth of Bitcoin for the last two years, along with the reward halving.

What are your opinions on the consequences of his economic policy in regard to Bitcoin and its price in the long term?

Miners can be affected if Trump's plans succeed in decreasing China's economy but still Bitcoins depend on US dollars rather than any other currency and currently, I can see the bitcoin price only increasing.
Yuan is again dependent on US currency and their economy is anyways slow. Don't think Trump can succeed in harming its economy.

I tend to disagree that Bitcoin is somehow dependent on US dollars. You just happen to see it denominated in dollars, and that's why you come to think it depends on it. Regarding the Yuan depending on the US currency, this is simply meaningless. Chinese economy greatly depends on the American markets because of the Chinese exports to the US, but it cuts both ways, anyway. I could just as well claim that the US dollar depends on the Chinese Yuan.

Dependent on fiat but not for a specific currency. USA may be a big country but we are using here a universal currency which would mean that all adopters from different countries support and use bitcoin, so that statement would prove that it's not only US alone.

[gabmen]

Among his many campaign promises as a candidate for the US presidency, Donald Trump has also been promising to close the US markets for the Chinese goods, at least partially. That, according to him, will help restore American jobs that he accused China of stealing. If he ever lives up to his promises and actually does something to that tune, it will certainly cause further devaluation of Yuan, the national currency of China. But the Yuan devaluation seems to be one of the primary drivers behind the growth of Bitcoin for the last two years, along with the reward halving.

What are your opinions on the consequences of his economic policy in regard to Bitcoin and its price in the long term?

Miners can be affected if Trump's plans succeed in decreasing China's economy but still Bitcoins depend on US dollars rather than any other currency and currently, I can see the bitcoin price only increasing.
Yuan is again dependent on US currency and their economy is anyways slow. Don't think Trump can succeed in harming its economy.

I tend to disagree that Bitcoin is somehow dependent on US dollars. You just happen to see it denominated in dollars, and that's why you come to think it depends on it. Regarding the Yuan depending on the US currency, this is simply meaningless. Chinese economy greatly depends on the American markets because of the Chinese exports to the US, but it cuts both ways, anyway. I could just as well claim that the US dollar depends on the Chinese Yuan.

Dependent on fiat but not for a specific currency. USA may be a big country but we are using here a universal currency which would mean that all adopters from different countries support and use bitcoin, so that statement would prove that it's not only US alone.

I agree. Btc is not dependent on the dollar alone but on fiat. For now. Although we base exchange rates on the dollar, that doesn' t mean that crypto relies on a specific currency.

[Sharma]

Among his many campaign promises as a candidate for the US presidency, Donald Trump has also been promising to close the US markets for the Chinese goods, at least partially. That, according to him, will help restore American jobs that he accused China of stealing. If he ever lives up to his promises and actually does something to that tune, it will certainly cause further devaluation of Yuan, the national currency of China. But the Yuan devaluation seems to be one of the primary drivers behind the growth of Bitcoin for the last two years, along with the reward halving.

What are your opinions on the consequences of his economic policy in regard to Bitcoin and its price in the long term?

First all I have doubt if Trump can deliver on his promise as banning Chinese products will gave lots of economic effects.
Second bitcoin is independent of most economic moves and I don't think any such decision will have much influence on bitcoin price

[Positid]

Among his many campaign promises as a candidate for the US presidency, Donald Trump has also been promising to close the US markets for the Chinese goods, at least partially. That, according to him, will help restore American jobs that he accused China of stealing. If he ever lives up to his promises and actually does something to that tune, it will certainly cause further devaluation of Yuan, the national currency of China. But the Yuan devaluation seems to be one of the primary drivers behind the growth of Bitcoin for the last two years, along with the reward halving.

What are your opinions on the consequences of his economic policy in regard to Bitcoin and its price in the long term?

First all I have doubt if Trump can deliver on his promise as banning Chinese products will gave lots of economic effects.
Second bitcoin is independent of most economic moves and I don't think any such decision will have much influence on bitcoin price

Banning chinese people has will effect to a bad economy, china are progressive now and they are going to compete with the US. I guess even the bag holders in bitcoin are mostly chinese and that is because my analysis is they are also having a big mining business.

[tee-rex]

Among his many campaign promises as a candidate for the US presidency, Donald Trump has also been promising to close the US markets for the Chinese goods, at least partially. That, according to him, will help restore American jobs that he accused China of stealing. If he ever lives up to his promises and actually does something to that tune, it will certainly cause further devaluation of Yuan, the national currency of China. But the Yuan devaluation seems to be one of the primary drivers behind the growth of Bitcoin for the last two years, along with the reward halving.

What are your opinions on the consequences of his economic policy in regard to Bitcoin and its price in the long term?

First all I have doubt if Trump can deliver on his promise as banning Chinese products will gave lots of economic effects.
Second bitcoin is independent of most economic moves and I don't think any such decision will have much influence on bitcoin price

He is not going to ban the Chinese products directly. In fact, the goods that get exported to the US are actually produced by the American companies such as Apple, Cisco, Qualcomm, etc using cheap labor resources of China, and Trump said that he would impose high protective tariffs so that these companies were more inclined to create jobs in the US itself instead of China.

[Pursuer]

It's hard to tell, but one thing I notice is that when Trump was declared as the new President of the US the price of bitcoin rallies up. I guess there's is something that we need to know on why that big news dictate the price of bitcoin.

a price rise specially when it is small like smaller than $50 is not called rally!
so the rise after the election results was only a simple rise which was most probably because of the hype that we have been seeing around  bitcoin social media about Trump and the bitcoin price and as you can see the rise has stopped and price is back where it was before.

[X-ray]

Among his many campaign promises as a candidate for the US presidency, Donald Trump has also been promising to close the US markets for the Chinese goods, at least partially. That, according to him, will help restore American jobs that he accused China of stealing. If he ever lives up to his promises and actually does something to that tune, it will certainly cause further devaluation of Yuan, the national currency of China. But the Yuan devaluation seems to be one of the primary drivers behind the growth of Bitcoin for the last two years, along with the reward halving.

What are your opinions on the consequences of his economic policy in regard to Bitcoin and its price in the long term?

First all I have doubt if Trump can deliver on his promise as banning Chinese products will gave lots of economic effects.
Second bitcoin is independent of most economic moves and I don't think any such decision will have much influence on bitcoin price

i'm also doubtful whether trump will keep his promise when he's still campaigning himself and make a controversial statement,and now he's becoming USA's president. He will probably forgot what he had said before as easily as deleting his controversial argument from his website

[Carlsen]

Among his many campaign promises as a candidate for the US presidency, Donald Trump has also been promising to close the US markets for the Chinese goods, at least partially. That, according to him, will help restore American jobs that he accused China of stealing. If he ever lives up to his promises and actually does something to that tune, it will certainly cause further devaluation of Yuan, the national currency of China. But the Yuan devaluation seems to be one of the primary drivers behind the growth of Bitcoin for the last two years, along with the reward halving.

What are your opinions on the consequences of his economic policy in regard to Bitcoin and its price in the long term?

First all I have doubt if Trump can deliver on his promise as banning Chinese products will gave lots of economic effects.
Second bitcoin is independent of most economic moves and I don't think any such decision will have much influence on bitcoin price

i'm also doubtful whether trump will keep his promise when he's still campaigning himself and make a controversial statement,and now he's becoming USA's president. He will probably forgot what he had said before as easily as deleting his controversial argument from his website

I think that a lot of things Trump said during his campaign won't come, or at least not the way he proclaimed it.
Obamacare for example was labled as a desaster by him and that it should be repealed.
Now he has announced that there are a few parts of Obamacare he likes quiet well.
I'm really not sure where we are heading with him. Especially not in terms of economy.

[thejaytiesto]

Bitcoin is going to go 1000+ dollars next year, it's pretty inevitable at this point. Donald Trump is going to start smooth, to make the markets calm and relax about his election. When things start looking normal and boring again, he will start pushing everything he said in the campaign, and this will start shaking the markets big time, and bitcoin will go to the moon.

[tee-rex]

Bitcoin is going to go 1000+ dollars next year, it's pretty inevitable at this point. Donald Trump is going to start smooth, to make the markets calm and relax about his election. When things start looking normal and boring again, he will start pushing everything he said in the campaign, and this will start shaking the markets big time, and bitcoin will go to the moon.

I don't think he should or will wait till markets relax and calm down. If he is going to deliver on his promises, I'm afraid, waiting makes no particular sense. I would rather say he may have to act quick and harsh as he is known to act. If he follows his violent nature, markets will soon get used to the shocks he will likely produce, quickly exhaust their "adrenaline" stores, in a sense, and as quickly return to their baseline levels determined by fundamental factors and usual hype.

[Theforextrader]

If he does make "america great again" meaning the dollar then GOLD will drop alongside BTC.

[tee-rex]

If he does make "america great again" meaning the dollar then GOLD will drop alongside BTC.

There is no doubt about that. But what distinguishes gold from Bitcoin is the level of their potential "fall". While Bitcoin may actually collapse a few times, especially if Trump is serious about banning Chinese goods from entering the US markets as well as prohibiting Bitcoin itself, gold is unlikely to suffer massive drop in prices. There are quite a lot of so-called "gold bugs" and pro-gold governments as well which will be start buying gold in massive amounts without a second thought if its price goes down a few hundred dollars.

In my view, gold can hardly fall substantially below $1,000 per ounce.

[Red Fish]

Trump can not do something for Bitcoin, and also for Chinese goods import in US. Bitcoin have many millions of users in USA, and what can he do. The only thing, which he can do - advert Bitcoin from Whitehouse in TV etc. But 80% will probably forget this after one week.

[BitcoinHodler]

when people say Trump presidency is beneficial for bitcoin and price to the moon, etc it is mostly a speculation type of thing because we really don't know anything about it yet.

but also it is because Trump is a businessman and has so many plans regarding economy and technology and stuff like that and he has talked about bitcoin too.

so there are some positive stuff in there to lead to that speculation

[tee-rex]

when people say Trump presidency is beneficial for bitcoin and price to the moon, etc it is mostly a speculation type of thing because we really don't know anything about it yet.

but also it is because Trump is a businessman and has so many plans regarding economy and technology and stuff like that and he has talked about bitcoin too.

so there are some positive stuff in there to lead to that speculation

I certainly agree that we are speculating here for the most part. But what distinguishes speculation from wishful thinking is the basis on which speculation is founded and the lack of such in case of wishful thinking. Basically, Trump has promised that he is going to restrict imports from China. Will this affect Bitcoin, provided he delivers on his promises? I tend to think that it will, but you are open to disagree, of course.

[CasioK]

The problem with China is the wages, they pay a low salary and this reflect in the world economy.

I don't think it will reflect in some way in bitcoin, USA isn't a power when you talk about bitcoin.

Of course USA isn't the one having absolute power to controll bitcoin but I guess that they can use the influence they have got among world countries to alter economic policies which can directly may have positive or negative impacts on bitcoin ecosystem, Lets wait what Mr.Trump have planned to shock or surprise us.

[wilson_bitbybit]

It is too early to know if the effects will be positive, but in the long term I do not see negative points for Bitcoin in this regard. Even if the government tried to compromise Bitcoin's progress, it would simply make bitcoin even more popular.

[izanagi narukami]

Trump's vision and mission are may different than others people ( sometimes his taught can unexpected people to think )
I can say one, he able notice on bitcoin and bring a bright change for bitcoin