The 2024 US presidential election is in full swing. As a weather vane for global finance and politics, this election will have a profound impact on the world economy. Bitcoin attracted unprecedented attention as a decentralized asset during this election cycle, and the market reaction was particularly enthusiastic, especially after Bitcoin was mentioned several times during Trump's campaign.

This election is not only about the future of the US, but also about the direction of Bitcoin and the cryptocurrency industry as a whole. This article will explore the relationship between Trump and Bitcoin, and the possible impact of the election on Bitcoin prices.

Since becoming president for the first time in 2016, Trump has always had a negative attitude towards Bitcoin, publicly calling it a “scam” and a “bubble,” and is skeptical about cryptocurrencies as a whole. Surprisingly, however, during the 2024 election campaign, Trump frequently participated in Bitcoin and blockchain-related activities, and his attitude seemed to change. The move attracted widespread attention in the market, and some investors speculated that Trump saw the potential of cryptocurrency and blockchain technology and might promote friendlier policies.

Trump's relationship with Bitcoin is complex and varied, and is probably part of his campaign strategy. Faced with criticism from the traditional financial system and the Federal Reserve, he chose to support decentralized digital currencies, possibly to attract young voters and supporters in the technology industry. Furthermore, Trump's long-standing “America First” policy may prompt him to pay more attention to Bitcoin and other related technologies to adapt to changes in global financial markets.

“Market Fluctuations During Elections”

Financial markets are often full of uncertainty during elections, and this uncertainty usually causes large fluctuations. asSafehaven assetsBitcoin's performance is generally closely related to market sentiment, and the political climate of the 2024 election further increased Bitcoin's volatility and speculative appeal.

There may be complex interactions between Trump's economic policies and the price of Bitcoin. For example, if Trump is re-elected and loose monetary policies (such as interest rate cuts or fiscal stimulus), it may weaken the dollar, which will usually drive up the price of Bitcoin. A weaker dollar usually prompts investors to seek alternative means of storing value, and Bitcoin, which is viewed as “digital gold,” is one of the main options.

The US election may be a catalyst for Bitcoin's rise

2012: During the 2012 US election (November 5), the price of Bitcoin was around $11. By the peak of the cycle in November 2013, Bitcoin had surged nearly 12,000% to over $1,100.

2016: At the beginning of November 2016, the price of Bitcoin was around $700. By December 2017, Bitcoin peaked at close to $18,000, an increase of around 3,600%.

2020: The November 2020 election coincided with the COVID-19 pandemic. Bitcoin soared 478% in one year, reaching a market high of around $69,000. By March 2024, the price of Bitcoin reached a new all-time high, breaking through $73,000.

After every election, the price of Bitcoin was significantly higher than it was four years ago, but the increase showed a gradual decline. The growth rate declined by 70% in the first and second cycles, while the growth rate fell by 87% in the second and third weeks. If this trend continues to decline, the increase is expected to decrease by another 90%. The increase after the 2024 election is about 47.8%, and Bitcoin is expected to reach about $103,500 by the fourth quarter of 2025.

The 2024 US election may become a key point in the development of cryptocurrencies

The 2024 US election is not only a choice for America's future, but also important for the future development of global financial markets, especially the Bitcoin and cryptocurrency industries. Under Trump's influence, potential support for Bitcoin and the direction of its regulation will be the focus of market attention. Despite Trump's previous skepticism about Bitcoin, his frequent interactions with blockchain and cryptocurrencies during his campaign suggest that the market's interpretation of its future policies may directly affect Bitcoin's price fluctuations.

Judging from the historical cycle, previous US elections have had a significant impact on the price of Bitcoin. Although the price increase gradually declined after each election, this trend still highlights the profound impact of political events on the cryptocurrency market. If Bitcoin shows another expected rebound after the 2024 election, its future growth potential will be of great interest to investors. Therefore, in this election cycle, investors should pay close attention to policy changes and economic trends in order to make smart decisions in a rapidly changing market. The 2024 US election may become a key point in the development of cryptocurrencies, which will have a profound impact on the future global financial landscape.