Biggest crypto events of the week
2 min readNov 8, 2024
- JPMorgan analysts expect Bitcoin and gold to perform well, with Donald Trump having been elected President of the United States. The experts spoke about the “debasement trade” that “is likely to be reinforced by both tariffs and geopolitical tensions as well as an expansionary fiscal policy.” “We do not see the initial negative market reaction by gold as a rejection of the ‘debasement trade’ under a Trump win. After all, bitcoin, the other component of the ‘debasement trade’ rallied after the Trump win,” JPMorgan managing director Nikolaos Panigirtzoglou stated.
- In the early hours of November 8, Solana price climbed to $200 — a mark set in April 2024. Presto Research analyst Min Jung explained the SOL growth by strong memecoin activity supporting “the wider Solana ecosystem, including decentralized exchanges like Raydium.” “There is certainly an element of hope that is pushing up Solana price which includes a possible ETF approval, however, the timeline is still too far away <…> It’s more likely that expectation of favorable policy towards digital assets is pushing up the asset prices, especially in names such as Solana where there is a strong community of holders,” Jung said.
- Variant Fund CLO Jake Chervinsky listed the top crypto policy priorities for Donald Trump’s administration. “The top crypto policy priority for Trump must be ending Biden’s attempt to destroy the industry via regulation by enforcement. This means dropping the SEC’s unjustified enforcement actions and the DOJ’s Tornado Cash prosecution. This must be the litmus test for new leadership,” posted Chervinsky.
- Crypto trader Michaël van de Poppe believes Bitcoin is showing a steady upward trend. “We’re looking to hold support around 70k for continuation upwards and <…> I expect it [Bitcoin] to reach $100,000 in this quarter,” van de Poppe said in his latest video
