Bitcoin is bullish as Trump’s promises spark speculation of massive gains across the crypto community.
Among Donald Trump’s bold declarations is the vision of positioning the United States as a global crypto capital and creating a strategic Bitcoin stockpile.
This stance contrasts with prior regulatory skepticism, suggesting significant policy shifts that could reshape the crypto landscape. The prospect of a pro-Bitcoin administration fuels excitement among traders and analysts alike.
With Bitcoin eyeing $80,000, the question remains, “Will the bullish momentum be sustained?
BTC Past and Present Trend – What’s Next?
Throughout the past month, Bitcoin ranged between $60,000 and $67,000. However, its break above $70,000 is an interesting price action.
Bitcoin has held firm above the $65,000 level since mid-October. By October 31, the asset closed at $70,215, marking a 20.08% gain on a monthly scale. Its close price on November 1 was $69,289; on November 5, it recorded $69,359.
Following Trump’s win yesterday, Bitcoin closed at $75,639. Today, the coin is trading at $75,007, up over the past day. With the buzz around Trump’s crypto promises, analysts expect BTC to reach $80,000 and beyond.
Donald Trump’s Crypto Promises – Are These Fulfillable
Donald Trump’s recent victory has fueled excitement in the crypto community. However, will he fulfill his promises? On Election Night, Trump celebrated with prominent supporters like Elon Musk and Robert F. Kennedy, Jr., known for their crypto advocacy.
Trump made strong commitments to the crypto industry, beginning with a pledge to keep all government-held Bitcoin.
“We will keep 100% of all the bitcoin the U.S. government holds,” he declared.
Holding these assets could help prevent sudden price drops triggered by asset sales.
Trump also promised to remove SEC Chair Gary Gensler, who is known for strict crypto regulations. “On day one, I will fire Gary Gensler,” Trump stated, aiming to reduce regulatory burdens.
He vowed to form a “bitcoin and crypto presidential advisory council” led by industry-friendly figures, emphasizing, “The rules will be written by people who love your industry.”
Moreover, Trump wants all bitcoin mining based in the U.S., boosting energy dominance.
“If crypto defines the future, I want it mined, minted, and made in the USA,” he announced.
He also plans to cut interest rates, a move expected to support crypto growth by making borrowing cheaper. These promises signify a pro-crypto approach under Trump’s leadership.
Bitcoin’s Golden Cross In Sight – BTC to the Moon?
Based on technical indicators, Bitcoin (BTC) has been confirmed as bullish in the short and long term. The chart above shows the asset’s 50-day and 200-day Simple Moving Averages (SMAs) are below BTC’s trading price. Therefore, BTC’s market outlook is expected to remain positive this year and in the coming year.
The SMA has also crossed each other with the 50-day SMA now above, forming a golden cross. This marks a shift from bearish to bullish market sentiment. As a result, the asset has formed a very significant bullish candle, highlighting the massive buying activities in the market.
Again, the Moving Average Convergence/Divergence (MACD) indicator is bullish, moving above the signal line, and has bold green histogram bars. It confirms the bullish momentum, hinting at the increase in BTC’s strength for a prevailing upward movement.
Bitcoin’s Relative Strength Index Plunging – Is This A Short-Term Price Correct or Down Trend Beginning
The Relative Strength Index (RSI) is currently at 67, above neutral, suggesting intense buying momentum. The RSI below 70 (the overbought region) also indicates room for more price growth.
However, the plunging movement of the RSI is hinting at a short-term price correction. This move is vital as it facilitates trend continuation in a bullish or bearish market. Since BTC is bullish, this correction could mean higher asset price levels in the long run.
As investors remain bullish on BTC, this election-themed project, FreeDum Fighters ($DUM), is leveraging the election buzz to grab attention. Considering the project’s political theme, can Trump’s victory rub off on FreeDum Fighter’s $DUM?
Is FreeDum Fighter $DUM The Next Dogecoin?
FreeDum Fighter ($DUM) is a new memecoin capturing attention with its playful spin on the U.S. presidential election. With echoes of PolitiFi tokens like ConstitutionDAO (PEOPLE) and MAGA (TRUMP), $DUM brings humor and gamified interaction to crypto.
Under Trump’s leadership and influence, the token’s value could mirror the explosive growth Dogecoin experienced with Elon Musk’s interactions.
The project engages users through themed debates, online interactions, and voting, rewarding active participants with $DUM tokens. This connection to real-life events and viral content could fuel its popularity as Trump’s voice amplifies.
Presale Success So Far
The $DUM presale has already surpassed $447,160, signaling high interest. The initial price is $0.0007, with 40% of the total 270 billion token supply reserved for the presale.
The event is divided into four stages, supporting multiple networks like Ethereum and Base. The project has also passed security audits by Coinsult and SolidProof, assuring credibility.
Given the charged political atmosphere, $DUM appears prime for significant gains. Investors can buy $DUM tokens with as little as $5, making it accessible to many participants.
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Rida is a dedicated crypto journalist with a passion for the latest developments in the cryptocurrency world. With a keen eye for detail and a commitment to thorough research, she delivers timely and insightful news articles that keep her readers informed about the rapidly evolving digital economy.
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