The cryptocurrency market is anticipating a surge in optimism ahead of President-elect Donald Trump’s inauguration on January 20, 2025.
This positive optimism is largely attributed to expectations of a more crypto-friendly regulatory environment under the incoming Trump administration.
INVESTORS KING gathered that the Trump’s effect immediately reflected on Bitcoin following his emergence as the United States of America, USA, President-Elect.
An effect which saw Bitcoin (BTC) reaching its all-time high (ATH) of $108,135.00 on December 17, 2024, however, as of January 19, 2025, Bitcoin is trading at $104,950.00, approximately 2.95% below its ATH.
Cryptocurrency is a market influenced by various factors, including regulatory developments, institutional adoption, and macroeconomic trends.
Additionally, the appointment a former SEC commissioner, Paul Atkins, who is known for his market-friendly is believed to provide a more supportive regulatory environment and enhance adequate growth within the sector.
It is also believed that the inauguration of President Trump will boost small cryptocurrencies, which are widely known as altcoins.
This expectation has triggered the creation of many, which includes “47”, “Justice for Trump”, “Trump” to mention but a few.
In an apparent support for the anxieties in the crypto space ahead of his inauguration, President-elect Trump launched a meme coin named $TRUMP on the Solana blockchain.
The $TRUMP surprisingly hit a market capitalization of over $6 billion shortly after its release.