Trump is president again: how crypto investors reacted

The Republican candidate Donald Trump has won the U.S. presidential election, securing over the 270 necessary electoral votes. His victory has already been acknowledged by all American media, as well as by his opponent from the Democratic Party, Kamala Harris. In this article, we will discuss how cryptocurrency enthusiasts have reacted to this news. 

Donald Trump is known for his favoritism towards cryptocurrency. On election day, we already saw a number of effects. For example, Coinbase showed a 4% increase on election day and has continued to rise on the pre-market for three consecutive days. The ASIC miner manufacturer Canaan closed on election day up by 9%. Bitcoin also showed an increase, rising above $75,000, which is its peak value. It is clear that for people earning on cryptocurrency, this is a significant event. We looked at comments in popular Telegram channels about cryptocurrency investments, and here’s what people are saying.

Overall, people shared screenshots showing the growth of their cryptocurrency capital against the backdrop of Trump's victory news. The second most popular topic of discussion was how much the cryptocurrency market will grow. Some are talking about a 15% increase on the first day, with more moderate growth expected afterward, although some are dreaming of even more. 

"Is it 15% now? What if it's +15% every day?" one user wonders. 

As for the promises of the 47th President of the United States, opinions are divided. Let’s recall that Trump, among other things, promised that Bitcoin would become a strategic reserve of the United States and that the repression of the cryptocurrency market would be halted. Some users say it's urgent to buy Bitcoin, while others doubt that the president will fulfill his promises. 

"Promise is not the same as marriage," notes one user. 

"I wouldn't rely too heavily on Trump," another user agrees with his skepticism. 

Nonetheless, investor sentiment ranges from positive to moderately skeptical. Overall, no one expects market conditions to worsen. 

But as one user pointed out: "Fatality only in January." So we await the inauguration on January 20; Trump must fulfill part of his promises, but which ones will be revealed in the new year. As of now, Trump's victory appears to be a clear win for people in the industry.