What to Expect and How It Could Impact Crypto!
As Donald Trump prepares to be sworn in on January 20, the world is watching with curiosity, and the cryptocurrency market has responded. Bitcoin has reached an all-time high of $109,241, surging 6% in an hour as traders speculate on pro-cryptocurrency policies that Trump may announce. This is worth looking forward to!
Trump’s inauguration
The inauguration ceremony will begin at 12 noon Eastern Time (17:00 GMT), with Chief Justice John Roberts administering the oath of office. Trump defeated Kamala Harris in the 2024 presidential election and returned to the White House.
The cryptocurrency market is booming, driven by Trump’s pledge to transform the United States into a global cryptocurrency hub. Just hours before the ceremony, Bitcoin record $109,000with a market value of US$2.15 trillion.
Other cryptocurrencies also saw significant gains, with Ethereum surging 6% to $3,384.20. Meanwhile, XRP and Dogecoin gained significantly by 5% and 2.4% respectively.
Trump administration’s moves to support cryptocurrencies
The Trump administration is already taking steps that could benefit the cryptocurrency market, appointing crypto-friendly leaders to key positions. he has Choose Paul AtkinsFormer SEC official known for supporting deregulation, leads the Securities and Exchange Commission (SEC).
also, david sachsFormer PayPal executive named White House cryptocurrency czar. Sachs will work on developing a legal framework for cryptocurrencies, a long-awaited move by the industry.
Trump also created a new Department of Government Effectiveness, led by Elon Musk and Vivek Ramaswamy, to drive innovation and reduce government costs.
Expert participation
Market analysts are optimistic about the impact of a Trump presidency on digital assets. Well-known market expert Xremlin believes that Possibly a “golden age” for cryptocurrencies. He predicted there could be significant growth in U.S. coins and assets associated with the Trump family.
Notably, Eric Trump has revealed his investments in Bitcoin, Ethereum, Solana, and Sui, demonstrating his confidence in existing crypto assets.
Some experts even speculated that Trump’s inauguration speech could push Bitcoin prices to $120,000 or higher.
