Crypto Market Banks on Trump Win for Growth

IconCryptoNewsTerminal Staff05 Jul, 2024

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Crypto Market Banks on Trump Win for Growth

The cryptocurrency market is anxiously awaiting the outcome of the US election in November. Many believe that a Donald Trump victory would be the catalyst for Bitcoin and other tokens to break out of their recent slump. This optimism stems from the perception that Trump is more crypto-friendly than his opponent. His policies, such as tax cuts and deregulation, would make Bitcoin and other tokens more attractive. The market has been looking for its next catalyst, and for many, that is now Trump. A Trump victory is expected to lead to a second-half rally in Bitcoin. This conviction has been growing since the first presidential debate last week. The cryptocurrency market has been in a holding pattern for much of the year, with Bitcoin trading in a tight range between $10,000 and $12,000. A Trump victory could provide the spark that the market needs to break out of this range and move higher.

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