Clear regulations and market growth: what crypto enthusiasts expect after Trump’s victory

Donald Trump’s presidential election win can significantly influence the crypto industry in the short term. Market players expect the president-elect to act upon his campaign promises, such as dismissing SEC Chairman Gary Gensler and turning the USA into the “crypto capital of the planet.”

Bernstein analysts hope that Trump’s administration will clarify crypto asset classification and enact legislation regulating stablecoins and the whole crypto industry.

Standard Chartered Bank Head of EM FX Research Geoffrey Kendrick believes that the promises of supporting the crypto industry made by the U.S. president-elect will drive overall crypto market growth. Standard Chartered analysts also suggested that Bitcoin can surge to $125,000 by the end of 2024 and even reach $200,000 by the end of 2025.

BitRiver financial analyst Vladislav Antonov reminded about the U.S. Federal Reserve’s intention to issue its rate cut decision on November 7. Antonov believes the crypto community should focus on the statement that Fed Chair Jerome Powell will make rather than the political situation.

ENCRY cofounder Roman Nekrasov noted that the latest U.S. election drove digital asset growth, which could indicate the start of a new bullish cycle. Halving, slower inflation, Trump’s victory — all that points to the fact that “capital can flow into crypto and all the conditions required for growth are in place.”