January 20th may turn out to be the most important date in the history of the crypto market. Donald Trump has officially become the President of the United States. Despite the lack of BTC ATH after the inauguration, cryptocurrencies’ have been rapidly growing for the last couple of days, showing that the whole world is still waiting for POTUS decisions regarding the crypto market.
BTC ATH – why do traders have to wait?
On Monday, January 20th, Bitcoin was not the main topic of Donald Trump’s inauguration. The President focused on national and worldwide safety and strengthening the position of the United States internally and externally. As a result, BTC ATH has to wait because the biggest crypto has fallen below $102,000.
After a flourishing couple of months since Trump’s victory in the U.S. elections, some traders want to prepare for a bearish market after this sensational bullish period. With natural crypto volatility, investors must be ready in the next couple of days. What potential changes could impact the Bitcoin market?
First and foremost, Donald Trump confirms the switch in the SEC. Gary Gensler was replaced by the former commissioner Paul Atkins. Gensler’s administration focused on creating and conducting new regulations against crypto in general. Even though Atkins’ attitude towards crypto is not clear and obvious, this change might open a new chapter of the crypto-U.S. government relationship.
The crypto society suggests optimistic scenarios for BTC in the upcoming days. Available supply hasn’t been lower for seven years. This means that, even with slight losses, Bitcoin owners don’t want to sell it in general and are still waiting for Trump’s first announcements.
Will all these changes push the whole crypto community to new heights?
Altcoins on the rise alongside Bitcoin
Just a few days before the inauguration, Trump turned the crypto world upside down with its TRUMP token coming alive on January 18th. Its unusual (even for meme coins) volatility and impact on the whole crypto community is immense. Even the potential BTC ATH is not the biggest news of the last week.
Read more: Solana ATH, Bitcoin, Trump’s coin – busy days for crypto market
Solana has definitely been the biggest winner in the last couple of days. TRUMP token is developed on the Solana chain, proving that this whole environment develops sensationally. This information is not good news for Ethereum, which keeps fighting for a number 2 place in the new President’s crypto hierarchy.
While these two altcoins battle for the number two spot, others emerge from the back seat. Chainlink recorded massive growth in the days before its inauguration. According to data, major investors bought substantial amounts of LINK after its price had plunged on January 13th. Technical analysis indicates that it may not be over, so traders keep an eye on Chainlink alongside other altcoins.
Even though altcoins didn’t skyrocket after Trump’s inauguration, last weekend showed the immense potential in this area. Moreover, traders feel that crypto will play an essential role in the upcoming presidency. Coinbase stock price went up by over four percentage points.
Big tech together with Trump
Crypto usually compounds with the hi-tech society. And during Trump’s first official speech, it could be easily noticed. The old-new President focused on strengthening the American economy, which can be seen in slight growths on the NASDAQ and S&P500 right after the inauguration.
Traders can realize what’s at stake for the future of the tech landscape in the United States by looking at who was present at the old-new POTUS inauguration.
- Elon Musk, the owner of Tesla and multiple other hi-tech projects, was one of Trump’s most significant advisors during the presidential campaign.
- Mark Zuckerberg, Meta CEO, recently confirmed that Facebook will become more conservative in the next couple of months.
- Jeff Bezos, founder of Amazon, has engaged in multiple hi-tech projects, including those in the space industry, and is looking for cooperation with the U.S. government.
As you can see, everyone understands how important it is to have a good relationship with Donald Trump at this moment.
For the next few days, traders must keep tabs on current information and prepare for rapid price fluctuations. It includes not only the crypto market but also other volatile assets.
