Trump isn’t the only ‘story’ driving Bitcoin’s price higher, says exec

[jaberwock]

The reasons for the price increase for each halving vary, but basically a halving is a reduction in the reward per block which makes bitcoin increasingly scarce. The price of bitcoin rises due to increased demand, this is the basic law of why the price rises, but there are also reasons that drive the increase in interest.

Trump's victory as US president has made many investors optimistic about a better future for bitcoin. He is one of the many people who supports bitcoin and invests in it (as far as I know), so market optimism grows because of it. Legalization and more favorable adjustments to bitcoin can certainly be expected during his term as president, but these are our expectations of him.

Yes true, a lot of people started to believe in bitcoin after trump, and there is no denying that he had some part played in this increase. However, the point isn't "did trump had anything to do with it", the point is, "is trump the sole reason for it?" and I can tell you that he isn't.

We all know that halving played a big role, and even ETF's played a big role as well, so those were the important parts, and of course trump played a role too. Basically we had all of these together that come together and had a better future for us all combined. This doesn't mean that we can make a discussion about this and get away with a single reason, we have to realize that all of them are all great reasons together make for a big increase.

[Doan9269]

I saw it on the news. You can read it in details https://cointelegraph.com/news/post-halving-supply-shock-drive-bitcoin-prices-higher but you can easily understand it from the title and what I posted.

It is said that the bull run is also as a result of the post-halving effect. In the last halvings, this is truly how bitcoin price were. What do you people think. Is it caused by post halving event or Trump. I think both. If it was Harris that won the election, do you think the price of bitcoin would have been this far?

I will say as of now that everything work altogether for the bitcoin market to pump this far, we are still having the effect of the post halving experience form the market price which obviously affects it demand and supply, then the election as well now turned to be the booster to having this coming this fast, because if there was no any election, we are still going to have the all time high and cross to $100,000 but just that we may not know how sooner this might have occur.

[STT]

Never let politics be the reason for believing in something, there are far better reasons behind the scenes then just a name of one person.

Same for BTC there are a multitude of reasons for price to drive higher.  The hesitation this year was linked to the sharp move at the start of the year.  For much higher prices the revision and consolidation was necessary and helpful to future growth.

I think we'll need an additional reason for a proper next stage to BTC.  Trump is a known story, I'd love if he had magic tricks coming out of a top hat somehow unseen until the magic performed but we can see most things what will happen right now.

I imagine we need to see a Dollar index trade lower below 100 and this will loosen the reins on BTC with some relative currency weakness.  Just this simple process would be enough for the whole next year to be bullish beyond present prices.
  My reference for that would be the summer of 2020 which I think started with a lower DXY, the autumn and winter of course was great rises in BTC.

[Kemarit]

I saw it on the news. You can read it in details https://cointelegraph.com/news/post-halving-supply-shock-drive-bitcoin-prices-higher but you can easily understand it from the title and what I posted.

It is said that the bull run is also as a result of the post-halving effect. In the last halvings, this is truly how bitcoin price were. What do you people think. Is it caused by post halving event or Trump. I think both. If it was Harris that won the election, do you think the price of bitcoin would have been this far?

I will say as of now that everything work altogether for the bitcoin market to pump this far, we are still having the effect of the post halving experience form the market price which obviously affects it demand and supply, then the election as well now turned to be the booster to having this coming this fast, because if there was no any election, we are still going to have the all time high and cross to $100,000 but just that we may not know how sooner this might have occur.

Yeah, there could be other factors, but we can't deny it though. What do we think if Kamala Harris won though? Could be the price in the 6 digit by now? I highly doubt it. Of course we don't want politics to get involved, nevertheless, Bitcoin is too big that every news around will have a big effect on it's price, positive or negative.

So it just so happened that Trump being pro-crypto President or at least uses Bitcoin as a tool to make him win. And now we as crypto enthusiast is going to benefit from it and one of those benefits is seeing the price getting into the $100,000 for the first time in our short history.

[danadc]

I think something, if it is known that even the blindest person realized that Donald Trump activated the market, why do they insist so much on taking away that merit? Why? What do they gain? The most important thing is that the price is high, and it is very obvious that with Kamala Harris we would be seeing a huge drop in BTC, so I understand that there are many people in the USA who are still crying because their candidate did not win, but it is time to accept that things happen for a reason, and if this was the Trump effect, then let it continue because everything looks very good, no way, when he takes office it will surely be another ATH.

They decide not to give him the credit because many people do not like the fact that Donald Trump won. Even through he was supporting cryptocurrency, they wanted a woman president to win and not someone that has alot of negative images surrounding him, they also do not want to give him the credit because it will now look like Bitcoin needs someone to increase in price. I have always said that regardless of who won, in the long run Bitcoin would had still gotten a new highest price but because of the influence of Donald Trump and him not being against the cryptocurrency industry, we will begin to see better prices than what we had in mind that was going to happen. It is very bullish for the president of USA to be pro Bitcoin and not anti Bitcoin.

I likely agree with you, when we talk about the major factor at which the price of Bitcoin began it's movement then we can't exempt Trump win or put him in the second position. Trump's win or not we are definitely going to reach a significant all time high but to be honest enough i wrongly want to accept it would happen this sudden and in bit of a time we already have acquired a decent price over what we speculated and still having lots of time to spare on hitting further price mark. With the kind influence from Trump we are not far from hitting the most ATH of $150K, coming next year when he finally emerges on power.

If that is not a question of seeing who is better or worse as president, but we must not take away credit that the price of bitcoin rose thanks to the push that Donald Trump gave it when he won, and there is nothing bad about that, on the contrary, those who are bothered by assuming that is because it affects them that he won, people are very political and in the end that is not good, it creates enmity, enemies unnecessarily, bitcoin was going to rise, but also perhaps not for this moment, for me it was going to rise fully by 2025, but we are in a good moment, it should be taken advantage of.

It was just that a good add up on which we cant be able to deny that it did make out some significant impact into Bitcoins price or simply on the entire market on which it did make out some bullish momentum.
We do know that news and fundamentals could really be give out that effect but it would really be just that temporal. Honestly, im not really that trusting up that much when it comes to those news and other fundamentals that it will really be lasting up until the end. We do know that when it comes to personal decisions and views of a certain individual could really be making up some u-turn on which it will really be that resulting into some negative and this isnt the first time that did happen into this market but already on several times. Therefore, it will really be always that good or better that you do expect the unexpected to happen because there's no way that these things will remain up and decisions could really be that goes south or go into the other path. Lets just be thankful into what happened into that US election on which it did make out some positive effect on the entire crypto market space specially into those people who had invested and goes for short term positions which they did really benefit out the most.

Yes, the important thing is that this effect brought good news for the market, it has already passed the $100k range at most they said no, that they were not going to achieve it , and it Cannot be denied that this is not only because of the Trump effect but due to the economic policies that have already been implemented, that some investors already feel more confident with BTC , to invest without fear because they know they will give good profits, all of this is due to the normal events of a market, not just Trump, it is understood, but without the Trump effect we would not be living this.

[Jating]

Never let politics be the reason for believing in something, there are far better reasons behind the scenes then just a name of one person.

Same for BTC there are a multitude of reasons for price to drive higher.  The hesitation this year was linked to the sharp move at the start of the year.  For much higher prices the revision and consolidation was necessary and helpful to future growth.

I think we'll need an additional reason for a proper next stage to BTC.  Trump is a known story, I'd love if he had magic tricks coming out of a top hat somehow unseen until the magic performed but we can see most things what will happen right now.

I imagine we need to see a Dollar index trade lower below 100 and this will loosen the reins on BTC with some relative currency weakness.  Just this simple process would be enough for the whole next year to be bullish beyond present prices.
  My reference for that would be the summer of 2020 which I think started with a lower DXY, the autumn and winter of course was great rises in BTC.

Bitcoin ETF approval is one obviously, as it was the catalyst for a new all time high before the halving. It's the first time that we have seen in Bitcoin history, that achieving a all time high before halving hasn't been done before.

In 2020, and not go to too technical, we have the pandemic, and yet the price did move to where we expect it to be during that time, leading to the bull run of 2021. So there could be events, whether geo-political that can really affect the price of Bitcoin.

[Marvell1]

...

Bitcoin ETF approval is one obviously, as it was the catalyst for a new all time high before the halving. It's the first time that we have seen in Bitcoin history, that achieving a all time high before halving hasn't been done before.

In 2020, and not go to too technical, we have the pandemic, and yet the price did move to where we expect it to be during that time, leading to the bull run of 2021. So there could be events, whether geo-political that can really affect the price of Bitcoin.

Bitcoin is just a small part of the world economy so anything that affects the economy will also affect bitcoin.

Who becomes the president of the United States is always a top concern of the world because the future of the world economy depends on their policies. Whether the world becomes better or worse largely depends on their leadership, so don't try to deny Trump's role and influence on bitcoin. His victory wasn't the only factor, but it clearly played a major role in bitcoin's recent surge.
I know many people will not like this blunt truth because a politician influencing bitcoin will not be good for it but we need to accept the fact that they can influence bitcoin the way they want.

[lizarder]

I saw it on the news. You can read it in details https://cointelegraph.com/news/post-halving-supply-shock-drive-bitcoin-prices-higher but you can easily understand it from the title and what I posted.

It is said that the bull run is also as a result of the post-halving effect. In the last halvings, this is truly how bitcoin price were. What do you people think. Is it caused by post halving event or Trump. I think both. If it was Harris that won the election, do you think the price of bitcoin would have been this far?

For estimates based on my personal analysis, I think the effect of the increase in bitcoin is also inseparable from Trump being elected as the US president because he was quite vocal about bitcoin during the campaign and it was different when Harris won the election and it is not certain that bitcoin could rise like it is now. If you count the previous halving and maybe for now there has been no bull run because based on the previous cycle, bitcoin should have approached the halving again next year. But there is always no certainty about that because what happened was the opposite and bitcoin approached the post-halving faster than the cycle count.

My assumption is related to Trump's victory, although it is also not separate from several other events that occurred so that bitcoin got a bull run faster than expected. I could have missed some other estimates, but I see this as related to Trump who won the US election.