Trump’s Presidential Speech Snubs Bitcoin and the Future of Crypto
Ahead of Donald Trump’s inauguration as the 47th President of the United States, Bitcoin saw a sharp rise, peaking at $109,000. However, the price of the cryptocurrency failed to maintain this momentum and began to decline after the inauguration, eventually falling below $102,000.
Trump made no mention of cryptocurrencies in his inauguration speech, just days after allegedly launching his official meme coin, TRUMP, on January 18. The coin quickly gained momentum in the cryptocurrency market, with its value soaring to a fully diluted valuation (FDV) of around $60 billion.
In his speech, Trump outlined the executive orders he plans to sign, covering topics such as health care and declaring a national energy emergency. He also said there are now only two genders in the United States, discussed border issues and addressed the Los Angeles wildfires. However, he failed to mention any plans for the growing cryptocurrency industry, disappointing thousands of cryptocurrency enthusiasts.
“American patriots, we will strive to respond to every crisis with dignity, strength, and strength. We will move with purpose and speed to bring prosperity, security, and peace to our citizens of every race, religion, and color. Citizens of the United States, January 20, 2025 is Liberation Day,” Trump said in his speech.
What’s next for Bitcoin price?
Bitcoin’s future price movement depends on developments under the Trump administration and possible policies related to digital assets. Market participants are also keeping a close eye on the options market, with many expecting Bitcoin to close above $110,000 by the end of January and potentially reach $120,000 in February, driven by market optimism and the broader economic backdrop. Overall, this is a highly volatile time for Bitcoin, with many unpredictable factors at play.
At the time of writing, Bitcoin is down more than 2% and is trading at just over $103,000.
