Quote from Harvey CHEN on 11/13/2024, 03:12

The surge in Bitcoin prices following Donald Trump's election as U.S. president can be attributed to several factors that tie into broader market sentiment and investor behavior. When political or economic uncertainty rises, such as during election cycles or unexpected outcomes, Bitcoin and other cryptocurrencies are sometimes viewed as a hedge against potential instability.

During Trump's presidency, especially in the early years, market uncertainty around his policies, trade relations, and unconventional governance style prompted investors to seek alternative assets like Bitcoin. The perception of Bitcoin as a "safe haven" asset during times of economic or political volatility gained traction, boosting its demand.

Additionally, Bitcoin's decentralized nature, outside the control of any government or central authority, makes it appealing to those who worry about potential inflation or the devaluation of fiat currencies during politically charged times.

It's important to note that market movements in cryptocurrencies like Bitcoin are also driven by a wide range of other factors, including broader trends in technology, investor speculation, and changes in regulation or adoption.