11–20 of 163 posts
during euro/asian hours price will go sideways or go down, then during US hours you get the huge moves up or down
i'm guessing all financial markets are like that. it's like US is a behemoth
Are there theories why Trump getting elected caused such a spike? Expected sanctions devaluing other currencies, higher risk of conflict (eg Iran -Israel/US war) causing economic instability, ... ?
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Trump spoke glowingly about crypto this year on the campaign trail, despite casting skepticism upon it for years. At the Bitcoin conference in Nashville in July, Trump floated the idea of establishing a federal Bitcoin reserve, and stressed the importance of bringing more Bitcoin mining operations to the U.S.
Perhaps most importantly, Trump vowed to oust Gary Gensler, the chair of the Securities and Exchange Commission (SEC), who has brought many lawsuits against crypto projects for allegedly violating securities laws. Gensler is a widely-reviled figure in the crypto industry, with many accusing him of stifling innovation. Gensler, conversely, argued that it was his job to protect consumers from the massive crypto collapses that unfolded in 2022, including Terra Luna and FTX.
Gensler’s term isn’t up until 2026, but some analysts expect him to resign once Trump takes office, as previous SEC chairs have done after the President that appointed them lost their elections. A change to SEC leadership could allow many more crypto products to enter mainstream financial markets. For the past few years, the SEC had been hesitant to approve crypto ETFs: investment vehicles that allow people to bet on crypto without actually holding it. But a judge forced Gensler’s hand, bringing Bitcoin ETFs onto the market in January. Now, under a friendlier SEC, ETFs based on smaller cryptocurrencies like Solana and XRP may be next.
Many crypto enthusiasts are also excited by Trump’s alliance with Elon Musk, who has long championed cryptocurrencies on social media. On election night, Dogecoin, Musk’s preferred meme coin, spiked 25% to 21 cents.
Are there theories why Trump getting elected caused such a spike? Expected sanctions devaluing other currencies, higher risk of conflict (eg Iran -Israel/US war) causing economic instability, ... ?
[0] https://apnews.com/article/sec-chair-atkins-gensler-investor...
Duplicate comment from the other thread: 11 years ago I sold 100 BTC, and made pretty good money. With that said, the more I think about BTC, the less sense it makes to me. Exceedingly few people actually use it for anything practical. The “store of value” functionality has completely eclipsed the practical use that Bitcoin maxis were preaching back then. Since 2016-2017, it seems like people have bought it for the s…
Are there theories why Trump getting elected caused such a spike? Expected sanctions devaluing other currencies, higher risk of conflict (eg Iran -Israel/US war) causing economic instability, ... ?
Most companies in the space have had "the government could, at any moment, make it nearly impossible for us to continue operating" as an existential risk, so if that risk goes down, the expectation for further innovation and development soars.
Duplicate comment from the other thread: 11 years ago I sold 100 BTC, and made pretty good money. With that said, the more I think about BTC, the less sense it makes to me. Exceedingly few people actually use it for anything practical. The “store of value” functionality has completely eclipsed the practical use that Bitcoin maxis were preaching back then. Since 2016-2017, it seems like people have bought it for the s…
First comment of any bitcoin thread on HN is always something like this, generally negative and a bit grumpy.
Are there theories why Trump getting elected caused such a spike? Expected sanctions devaluing other currencies, higher risk of conflict (eg Iran -Israel/US war) causing economic instability, ... ?
Duplicate comment from the other thread: 11 years ago I sold 100 BTC, and made pretty good money. With that said, the more I think about BTC, the less sense it makes to me. Exceedingly few people actually use it for anything practical. The “store of value” functionality has completely eclipsed the practical use that Bitcoin maxis were preaching back then. Since 2016-2017, it seems like people have bought it for the s…
Extremely curious about your methodology here. Also I'm not sure how to process "the max value is only 5-10x from current prices so the big money has already been made". Can you explain?
Are there theories why Trump getting elected caused such a spike? Expected sanctions devaluing other currencies, higher risk of conflict (eg Iran -Israel/US war) causing economic instability, ... ?
https://time.com/7173421/what-donald-trump-election-win-mean... ---- Trump spoke glowingly about crypto this year on the campaign trail, despite casting skepticism upon it for years. At the Bitcoin conference in Nashville in July, Trump floated the idea of establishing a federal Bitcoin reserve, and stressed the importance of bringing more Bitcoin mining operations to the U.S. Perhaps most importantly, Trump vowed to…