Trump's backing of the stalled CLARITY Act, which aims to establish clearer regulatory treatment for digital assets, helped revive expectations that the US regulatory environment could become more supportive of the industry.
That's not new and I personally think it had no effects on the price, and even if it did, it's effects were priced in before this rise.
This large rise started after the news about US national debt reaching $40 trillion dollars. We can see its effects on other markets as well. Oil and gold (and precious metals in general) are also on the rise and are rapidly setting new highs compared to previous month(s).
We already knew that as dollar fails, price of every hard asset goes to the moon. And that's exactly what's been happening here.
I would argue against your argument and I would also mention that your argument that the cause of the pump is the national debt of the US and A is headshaking.
On the Clarity act, before the Donald's announcement, bitcoin is very much not pumping and the ratings on the chance of the Clarity act's approval is low. After the Donald's speech, the
Trump pump has begun.
On your argument that the national debt is the cause of the pump, if this is true then bitcoin should have pumped to more than $1 million already before this has occurred because this national debt of America has been on very dangerous levels already.
Also, it is headshaking that this people in this forum will not accept if the Donald caused the
Trump pump, however, they will blame him if there was a dump that he has not caused heheheheheheee.