Bitcoin Price And The Trump Effect: Here’s What Happened The Last Time Donald Trump Was President

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As a seasoned researcher and crypto analyst who has witnessed the volatile world of cryptocurrencies for over a decade now, I find the Trump Effect on Bitcoin’s price quite intriguing. Having seen Bitcoin’s meteoric rise following Trump’s victory in 2016, I can’t help but feel a sense of deja vu as history seems to be repeating itself.

The cost of Bitcoin has reached an unprecedented peak due to optimistic feelings stirred by the “Trump effect” following the recent U.S. Presidential elections. Previously, when Trump won the U.S. election in 2016, Bitcoin demonstrated a comparable surge in value, touching new record highs at that time.

The Trump Effect On The Bitcoin Price

crypto analyst Mags has switched over to X (previously Twitter) for a conversation about Bitcoin’s bullish response following Trump’s re-election as US President. The expert predicts that, much like the surge in Bitcoin price after Trump’s initial election win in 2016 – where it skyrocketed an astounding 2,700% and peaked within only 400 days.

This remarkable surge of Bitcoin has not only reinforced its position in the mainstream financial world but also underscored the profound impact political transitions, like Trump’s re-election as U.S. President, can exert on a cryptocurrency’s worth. According to Mag’s assessment, Trump’s second term could spark another bullish trend for Bitcoin.

Initially, the first digital currency, Bitcoin, experienced a significant price surge following Trump’s election victory. Yet, financial experts predict an even more optimistic bullish trend for Bitcoin. Mags suggests that if history follows a similar pattern in this cycle, Bitcoin might reach its maximum value by December 2025 or perhaps as early as the last quarter of next year.

In the year 2026, the value of Bitcoin was approximately between $145 and $215. But after experiencing a significant boost due to Trump’s influence in 2018, which propelled it to an astounding $16,000, Mags predicts a more moderate price increase for this cycle compared to the historic surge of around 2,700%.

The analyst predicts that if Bitcoin has a moderate 240% increase during this cycle, its value might reach approximately $250,000. However, Mag’s price chart indicates a more significant surge, possibly pushing Bitcoin’s price up to around $420,000.

Based on an optimistic forecast by the analyst about potential increases in Bitcoin’s price, several members of the crypto community expressed different opinions. One individual suggested that if Bitcoin were to achieve just half the growth it experienced following Donald Trump’s 2016 election win, the next peak price would be substantial. This would amount to a remarkable increase of around 1,350%, taking Bitcoin’s value up to roughly $1,215,000 from its current level.

A different crypto enthusiast proposed a less optimistic perspective, suggesting that a 2,400% increase in Bitcoin’s value was unrealistic given its current standing. Instead, they suggested that a $250,000 price jump could be a more reasonable long-term goal for the digital currency.

BTC Tops Out At ATH Above $93,000

As a researcher, I’ve recently observed some fascinating insights from market intelligence platform Santiment. The price of Bitcoin has hit a record high (ATH) at approximately $93,490. This remarkable surge can be linked to the escalating excitement across social media outlets post Trump’s victory in the recent US Presidential elections.

Based on the escalating speed and power of Bitcoin’s upward trend, Santiment suggests that key factors point towards potential price jumps exceeding $100,000 in the future. At present, the Bitcoin price stands at around $89,763 following a roughly 20% rise over the past week, though it has slightly decreased from its peak.

Featured image created with Dall.E, chart from Tradingview.com

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2024-11-15 00:42