With Donald Trump Bitcoin Price could grow

FlypMe Banner

With Donald Trump Bitcoin Price could grow

America has its 45th President today and several bitcoin investors and analysts believe that with Donald Trump Bitcoin price could grow, as its presidency could provide a boost to bitcoin prices.

Analysts explained that even if Bitcoin markets would not see any significant change from Clinton’s election, instead Trump could impact worldwide investors, so traders agree that Donald Trump will be a good thing for bitcoin business.

Jacob Eliosoff commented:

“I think a Trump presidency would be great for bitcoin, much like nuclear war would be great for bitcoin. It would be an epic disaster in a bunch of respects – economic, geopolitical, democratic – and in the fear and chaos bitcoin would be a defensive asset people could turn to.”

If Hillary Clinton won, experts have suggested that she would be a boom for the blockchain markets, given her open embrace of the tech as part of her innovation platform. Previously, in fact, she suggested she would use the distributed ledger.

The Donald Trump Bitcoin Effect

Donald Trump hasn’t put bitcoin on his agenda yet, but he defined himself as a “Washington outsider”, so traders believe that he lead to uncertainty and move towards alternative assets.

This might create just a temporary increase in bitcoin prices, but it might have a little lasting effect.

In fact,  ARK Invest‘s Chris Burniske underlined that bitcoin can be useful in unpredictable times like this, and the election could add evidence to this claim.

“The way in which its price movement is uncorrelated from other capital market assets may be a desirable characteristic for many investors in the face of uncertainty. Depending on how people feel about the election, they may choose to hedge themselves from the more traditional markets by using bitcoin.”

So, in a few words, if bitcoin benefits from the election result, don’t give Trump too much credit for that, any other cataclysm would have done the same.

<img src="/images/DonaldTrumpBitcoin.jpg" alt="Donald Trump Bitcoin" height="264" width="350" />

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio
Amelia Tomasicchio

Amelia Tomasicchio is a content writer and marketer of Bitcoin-related news and fintech startups. She started writing about Bitcoin in 2014 and she graduated in Rome with an essay about movie industry related to Bitcoin.

2 thoughts on “With Donald Trump Bitcoin Price could grow

Bitcoin Price trades $750, $900 in India – HolyTransaction's blogPosted on  5:47 pm - Nov 18, 2016

[…] we said that the election of the 45th U.S.A. President Donald Trump might be one of the reasons for this Bitcoin Price […]

Saxo Bank Bitcoin Prediction for 2017 – HolyTransaction's blogPosted on  1:04 pm - Dec 8, 2016

[…] its reasons the prediction explained that the American President’s administration will might cause turbulence in the American economy, so this can be a good reason for people to invest in digital currencies like […]

Leave a Comment