Fun

How Trump’s DOGE Vision Could Impact Bitcoin Prices By 2025: Market Expert Answers

News Feed - 2024-10-31 04:10:15

As the US presidential election approaches, former President Donald Trump’s odds on crypto betting platforms like Polymarket have surged, with analysts predicting significant implications for Bitcoin prices if he secures a second term in the Oval Office. 


However, market expert Patrick H. warns that the current favorable conditions supporting Bitcoin’s rally toward a new record highmay shift dramatically under Trump’s proposed fiscal policies for the coming year. ‘No Money Printing, No Gains’


In a recent analysisshared on X (formerly Twitter), Patrick H. posited that if Trump is re-elected and appoints Elon Musk as the head of the newly proposed Department of Government Efficiency ( DOGE), the era of aggressive money printing could come to an end. 


During a Trump rally at Madison Square Garden on Sunday, the Tesla CEO revealed plans for the DOGE initiative, suggestingit could reduce federal spending by at least $2 trillion.  Related Reading Ethereum Holds Key Support To Set A $6,000 Target – Analyst 5 hours ago


Patrick H. argues that without continued money printing, there may be limited upward movement in Bitcoin prices. “No money printing, no price going up,” he stated. 


The expert believes that the market may not be fully accounting for the ramifications of a Trump victory on both the cryptocurrencyand stock market outlook for 2025.


Additionally, Patrick raised alarms about the Bank of Japan’s concerns regarding the US stock market if Trump implements these proposed policies. He warned that such changes could lead to an “economic shock” in 2025, further complicating the landscape for crypto prices. The Bitcoin Rally And The Potential Impact For Altcoins


Delving into the current price dynamics, market analyst Miles Deutscher recently said that despite Bitcoin trading just below its all-time highs, the market feels “unusually quiet,”   attributingthe silence to a lack of retail investor participation, which he argues is crucial for driving momentum in the cryptocurrency market.


Deutscher pointed out that from October 2023 to March 2024, altcoinsexperienced significant rallies, with many rising four to five times from their lows. Coins in trending sectors, particularly those related to artificial intelligence and meme coins, even saw increases of 10 to 15 times during this period. 


However, the analyst highlights that it wasn’t until February that retail interest re-emerged, as evidenced by metrics like Google Trends, app store rankings, and YouTube views.


Deutscher believes that this delay in retailengagement raises an important point: substantial price movements in cryptocurrencies often occur without immediate retail participation. 


According to the analyst, the Pareto Principle applies here—80% of gains typically occur during the final 20% of a price movement. This means that retail investors tend to wait until significant upward momentum is already established before entering the market, suggesting further price gains in the months ahead. Related Reading XRP Price Explosion Above $3 Is A Matter Of When, Not If: Analyst Reveals Timeline 4 hours ago


In the current context, the recent altcoin rally has only lasted four weeks following a six-month downtrend. Deutscher recalls that in the previous cycle, it took five months for retail investors to notice the market’s recovery. 


The analyst predicts a similar pattern may unfold again, although he asserts that the trust built during the March rally could shorten the time frame for renewed retail interest. Still, Deutscher emphasizes that Bitcoin breaking through its all-time highs would serve as powerful marketing for the entire cryptocurrency space. 


Ultimately, the analysts explains that the resulting “wealth effect” from the current Bitcoin rally is likely to catalyze further increases in altcoin prices, creating a positive ripple effect throughout the market. The daily chart shows BTC’s uptrend recorded since the beginning of the week. Source:BTCUSDT on TradingView.com


At the time of writing, the largest cryptocurrency on the market has managed to regain the $72,000 level after a brief correction to $71,400 in the past 24 hours.


Featured image from DALL-E, chart from TradingView.com

News Feed

David Attlee1 hour agoAnt Group launches new blockchain brand for Web3 developersThe new entity, ZAN, will help the parent company shake off its affiliations with Web3 and proceed to the IPO.351 Total views5 Total shares
Bitwise CIO ‘excited’ for a product that gives exposure to Ethereum DeFi
Brayden Lindrea3 hours agoBitwise CIO ‘excited’ for a product that gives exposure to Ethereum DeFiBitwise’s Matt Hougan said he has “extraordinary confidence” in the Ethereum ecosystem, hinting that a “great
Tron network exceeds Ethereum revenue over the past 90 days
Vince Quill6 hours agoTron network exceeds Ethereum revenue over the past 90 daysAccording to data from DefiLlama, the Tron network has accrued $1.31 million in network revenue during the past 24 hours alone.884 Total vi
Gareth Jenkinson10 hours ago‘No, we’re not smuggling people’ - Bitcoin advocate tours Europe in BTC-styled vanA Bitcoin-themed van promoting adoption around Europe has seen its fair share of drama, including a midn
Notorious ‘jaredfromsubway’ MEV bot returns with new attacks
Martin Young5 hours agoNotorious ‘jaredfromsubway’ MEV bot returns with new attacksThe “jaredfromsubway.eth” MEV bot appears to have relaunched with a better arsenal for carrying out attacks.2364 Total views3 Tot
Washington Townhome Tied to Disgraced FTX Co-Founder Listed for $3.28 Million Amid Controversy and Bankruptcy
Washington Townhome Tied to Disgraced FTX Co-Founder Listed for $3.28 Million Amid Controversy and Bankruptcy A Washington, D.C., townhome tied to FTX co-founder Sam Bankman-Fried
Next Level Blockchain Ecosystem IllumiShare SRG Set to Launch Token Presale
Next Level Blockchain Ecosystem IllumiShare SRG Set to Launch Token Presale press release PRESS RELEASE. In a move that will excite crypto enthusiasts, IllumiShare SRG has announced
Solana (SOL) tops $150 amid Pantera Capital bid, surge in memecoin and DApp activity
Marcel Pechman3 hours agoSolana (SOL) tops $150 amid Pantera Capital bid, surge in memecoin and DApp activityA handful of new developments back Solana’s swift rally to $150, but are any of them sustainable?2388 Total v
Iran Begins Central Bank Digital Currency ‘Crypto Rial’ Pilot Today
Iran Begins Central Bank Digital Currency "Crypto Rial" Pilot Today The Central Bank of Iran (CBI) has reportedly begun a pilot for its central bank digital currency (CBDC), also k
HK police arrest 4, including teen, in HK$11M crypto fraud
Amaka Nwaokocha11 hours agoHK police arrest 4, including teen, in HK$11M crypto fraudThe authorities continue to urge the public to remain cautious and verify the legitimacy of financial transactions to avoid falling vic
BTC price all-time high in July? 5 things to know in Bitcoin this week
William Suberg14 hours agoBTC price all-time high in July? 5 things to know in Bitcoin this weekBTC price gains since the weekend have transformed market sentiment, but not all Bitcoin traders think the good times will r
TikTok could soon be flooded with AI avatars in ads
Jesse Coghlan6 hours agoTikTok could soon be flooded with AI avatars in adsTikTok’s new tools include AI-powered digital avatars that brands can dub over and use to sell their products in multiple languages.2751 Total