Introduction
Under Trump’s leadership, the crypto market is gaining attention. Bitcoin (BTC) and Dogecoin (DOGE) could benefit the most with Trump. Other altcoins may also rise with improved regulations. At the time of writing, Bitcoin was close to $100,000, showing strong investor confidence.
Bitcoin as a Strategic Reserve for the U.S. In the Trump Era?
Bitcoin has surged since the 5 November election results. Over the last six weeks, it climbed steadily toward $100,000. Many believe Trump’s presidency could push Bitcoin even higher. On Thursday, Trump spoke at the New York Stock Exchange. When asked about a Bitcoin reserve, he said,
“We are gonna do something great with crypto.”
This statement sparked optimism in the crypto community. The idea of a national Bitcoin reserve is gaining traction. For example, on 12 December, Texas proposed legislation to establish this reserve. Bitcoin’s price history also points to strong growth. In previous bull cycles, Bitcoin saw fast gains:
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In 2020, Bitcoin consolidated briefly at its all-time high (ATH). After three weeks, it surged by 400% before April 2021.
Now, analysts suggest Bitcoin could aim for $280,000 to $300,000 by April 2025. However, gains may take longer this time. Trump’s pro-crypto stance and growing institutional adoption could support this rise.
Dogecoin Could See New Gains With Musk’s Influence
While Bitcoin dominates headlines, Dogecoin (DOGE) could also rise. Elon Musk, a well-known supporter of DOGE, continues to influence its price. Musk’s past actions had a major impact on Dogecoin. For example:
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In October 2023, Musk tweeted about DOGE. This caused a 26% price increase in just four days.
During the last cycle, Musk’s announcements were key drivers of DOGE’s rise. News like Tesla accepting DOGE payments added fuel to the memecoin’s rally. This year, Dogecoin’s chart patterns look similar to early 2021. Back then, DOGE skyrocketed by 1,400% in six weeks. While those gains are unlikely to repeat, analysts predict DOGE could still hit $1.33.
In October 2024, Elon Musk tweeted about the “Department Of Government Efficiency” (D.O.G.E.), leading to a 23% increase in Dogecoin’s price over the following week. Musk’s tweet, “D.O.G.E will fix it,” was in response to an article about California officials halting SpaceX launches. This message was interpreted as support for Dogecoin, causing its value to rise.
D.O.G.E will fix it 🪓
— Elon Musk (@elonmusk) October 15, 2024
Additionally, as Bitcoin stabilizes, capital often flows into altcoins like Dogecoin. Musk’s continued support and retail investor interest could trigger another rally.
Trump Altcoins and Regulatory Clarity
Trump’s return to office brings hope for better regulatory clarity in crypto markets. This shift could benefit not just Bitcoin and Dogecoin but also other altcoins. For instance, projects like Ripple’s RLUSD stablecoin have already gained momentum. Improved regulations encourage innovation and boost investor confidence.
$RLUSD is launching soon!
Stay vigilant and report any impersonations or scams. https://t.co/yqnAdBQSfW
— Ripple (@Ripple) December 10, 2024
Moreover, as Bitcoin approaches higher resistance levels, investors tend to seek higher returns elsewhere. This process, called capital rotation, often drives top altcoins higher.
Conclusion
Trump’s presidency could mark a turning point for the crypto market. Bitcoin remains the strongest candidate for growth, with talks of a national reserve adding excitement. Meanwhile, Dogecoin could see gains driven by Elon Musk’s influence and increased retail interest. Altcoins may also benefit from better regulations and rising investor optimism. As Trump’s policies take shape, cryptocurrencies like BTC, DOGE, and top altcoins could thrive in the months ahead.
