Experts called Trump's victory a secondary factor in Bitcoin's growth

According to Onramp Bitcoin co-founder Jesse Mayerssey, Donald Trump's victory in the US presidential election is not the only factor behind the recent rise in the price of Bitcoin.

The expert emphasized that today's dynamics are a normal and predictable consequence of the Bitcoin halving, which took place about half a year ago. During this time, there was a shortage of coins on the market, so the price rises under the pressure of demand. This provokes a chain reaction that should lead to another bubble.

According to Jesse Myers, the same thing happened after every previous halving, so it makes sense to expect the same this time. The change of government in the US to a potentially more cryptocurrency-friendly one only acted as a catalyst.

Onchain analyst James Check shares Jesse Myers' views. Comparing the first cryptocurrency with gold, he noted that the capitalization of the precious metal has increased by $6 trillion over the past year, despite constant multibillion-dollar infusions of new and recycled raw materials. At the same time, a similar figure for Bitcoin is $1.6 trillion, and its supply is limited, indicating the prospect of even greater growth.

Financier Anthony Scaramucci believes that Bitcoin should rise one way or another, given the prospect of a national cryptocurrency reserve in the US and growing interest from institutions. Trump's victory only accelerates this process.

At the time of publication, Bitcoin is trading around $91,323.

Earlier, the ex-head of BitMEX Arthur Hayes shared his opinion that the policy of Donald Trump could lead to the devaluation of the dollar and push Bitcoin to the price of $1 million.