JAKARTA - Donald Trump's pro-crypto victory euphoria in the 2024 US elections has boosted the price of crypto assets, especially Bitcoin. However, former CEO of BitMEX, Arthur Hayes, warned that the crypto market has the potential to decline. The reason is that there will be a massive sell-off on Trump's inauguration day, January 20, 2025.
The market will soon be aware that Trump has only one year to realize the policy changes that crypto investors expect, wrote Hayes, quoted by The Block, Wednesday, December 18. He added that high expectations without a solid political foundation could trigger a massive bump in Trump's crypto market and equity.
SEE ALSO:
-
| TEKNOLOGI
ATH Baru Lagi, Bitcoin Tembus 108.268 Dolar AS, XRP Ikut Terbang!
18 Desember 2024, 13:35
Trump's previous win raised the price of Bitcoin by more than 50%, from $68,000 to a record 108,135 US dollars (Rp1,730 billion). Investors expect more supportive crypto regulation, as Trump promised to create something great with crypto, including the establishment of a Bitcoin strategic reserve aka Bitcoin Reserve.
However, Hayes assesses Trump's time to implement his plans is very limited, considering that the 2026 part-time elections will begin to grab the attention of legislators. "Taking into account fundamental problems takes more than a decade for the best politicians though," Hayes said.
Maelstrom, the family office that is now managed by Hayes, plans to reduce its crypto asset holdings before January 20, 2025. However, Hayes realizes that bullish market potentials will continue after the inauguration.
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)
Most Popular Tags
#Prabowo Subianto #New Year #Syria #nataru #NatalPopular
