Bitcoin Rises 1900% During Donald Trump’s First Term

Bitcoin has increased 1900% under President Donald Trump's first term, from 2016 - 2020. Analysts are very optimistic about the prospects of Bitcoin and the crypto market in the coming time.

Azcnews Bitcoin Rises 1900% During Donald Trump's First Term

Trump’s victory in the November 6 election pushed Bitcoin to a new record high of $76,400, while leading experts predict BTC will soon surpass $100,000.

During Trump’s first term from November 2016 to November 2020, Bitcoin’s price increased by more than 1,900%, despite his unfavorable views on cryptocurrencies. This was evident in his famous 2019 tweet, when he called Bitcoin “highly volatile” and said its value was “based on thin air.”

However, a second Trump term, if it happens, is expected to be more beneficial for the crypto sector as he pledged to turn the United States into a “Bitcoin superpower” and implement deregulation policies to boost the industry. Of course, the possibility of Bitcoin repeating the 1,900% increase is very unlikely to be possible, because if it happens, the value of Bitcoin will exceed $1.5 million.

Bitcoin Price History
Bitcoin Price History

This would make Bitcoin an asset class worth up to $28.5 trillion, nearly eight times larger than Nvidia – the company with the largest market capitalization in the world today, and 1.6 times larger than the total market capitalization of gold. Obviously, reaching a price of $1 million per Bitcoin is still a distant goal, but in the long term, this price has been predicted by many reputable analysts.

Read more: 10 Crypto Policies Promised by Trump After Election

Cathie Wood, CEO of ARK Invest, has predicted that the price of Bitcoin will exceed $1 million by 2030, noting that major investment banks such as Morgan Stanley, Merrill Lynch and Bank of America are likely to enter the Bitcoin market.

Henry Arslanian, co-founder of Dubai-based Nine Blocks Capital Management, made a similar point in a November 6 post, stating that Trump’s victory could pave the way for “more institutions” to get involved in the crypto space in the US, from asset management firms to family offices.

(3 votes)

3.7/5

(3 votes)

Latest

How To Participate In Portal Airdrop (v2)

News | Airdrops | Editor Choice

How to Participate in Portal Airdrop (V2)

Join the airdrop hunt for the Portal Dex project—a DeFi platform on Bitcoin that has successfully raised $42.5 million and has just launched its free Testnet V2 program.

How To Start Mining Interlink

Airdrops | Editor Choice

How to Start Mining InterLink Airdrop

Join the InterLink airdrop campaign by mining free tokens directly on your mobile device — and get a chance to receive future airdrops!

Trump Coin Team Dumps $20 Million Worth Of Tokens

News | Editor Choice | Memecoin

TRUMP Coin Team Dumps $20 Million Worth of Tokens

TRUMP Coin shook the market as its team dumped nearly $20 million worth of tokens just before a private dinner with Donald Trump, amid calls from U.S. senators for an investigation into the event.

How To Participate In The 3dos Airdrop

Airdrops | Editor Choice

How to Participate in the 3DOS Airdrop

Join the hunt for the 3DOS airdrop, a project developed and actively supported by Sui Network. Currently, the project allows you to earn points by installing the extension. Don't miss this opportunity!

How To Participate In The Kast Airdrop

Airdrops | Editor Choice

How to Participate in the Kast Airdrop

Join the Kast airdrop hunt! The project has successfully raised $10 million and is currently allowing users to earn free points, which can later be converted into tokens. Don't miss this opportunity!