How Trump risks dragging Bitcoin to $80,000

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Hi! Eric here.

The countdown has started.

On Monday, Donald Trump volition beryllium inaugurated arsenic the 47th president of the United States — and crypto pundits couldn’t beryllium much excited, saying it volition trigger a “golden property of crypto.”

They person crushed to beryllium bullish. Trump’s pro-industry pledges during the run helped enactment up the crypto ballot amid aims to marque the US the “crypto superior of the planet.”

The anticipation that he’ll present triggered the post-election rally that saw Bitcoin deed $108,000 successful December. Analysts foretell Trump’s policies volition catapult the starring crypto to $250,000 earlier the extremity of 2025.

But what if helium doesn’t travel through?

What if — aft each his bloviation of the value of protecting self-custody, creating a nationalist Bitcoin reserve, and sidesplitting anti-crypto crackdowns — Trump shelves crypto for much pressing argumentation goals?

Bettors connected prediction marketplace Polymarket enactment the likelihood astatine 29% that the Donald volition notation crypto during his inauguration speech.

If Trump fails to rapidly present connected his campaign’s promises, Bitcoin volition descent to arsenic debased arsenic $80,000, Standard Chartered warned this week.

As Pedro Solimano reported, Standard Chartered made the lawsuit that portion Bitcoin exchange-traded funds and large buyers similar MicroStrategy are bullish for the price, a driblet beneath $90,000 could trigger a question of panic selling.

To beryllium sure, Trump’s already moved to assuage immoderate of those fears. Several of his nominations for cardinal roles successful his authorities — specified arsenic Tether-backer Howard Lutnick, and crypto commercialized radical relation Paul Atkins — person a pro-crypto way record.

So are you acceptable for this?

The future starts slow successful three, two, one…

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Post of the week

Memecoin level Pump.fun is not having a large clip of late.

It was forced to remove a arguable live-streaming diagnostic from its website aft immoderate memecoin creators began performing shocking unrecorded stunts successful bid to beforehand their tokens. Then a UK watchdog banned the platform.

This twelvemonth has truthful acold failed to supply a caller commencement for Pump.fun: This week it faced a people enactment lawsuit from investors.