The Trump Pump
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The odds were high and also taunting anyway. Kamala proved to be one tough opponent and it all went down to the polling day. The market can most times seems very easy to predict and if you are that market quick gainer (day trader) you could go home with some tangible gains. Anyway, don't forget the flip side, it could be a loss if all goes nuts. Personally I saw how Trump was running his campaign with a lot of tactics which has helped him gain the minds of voters he lost to President Biden. Some analysis yesterday showed an influx in youth votes for Trumps by a substantial percentage when comparing it with his previous campaign.
Of course we wouldn't be too surprised about that, Trump decided to embrace cryptocurrency, something that most youth are very interested in. I think this added to the set back of Kamala and her troop. A lot of industries are beginning to see the benefits of this virtual asset, Blackrock bought in and Wall Street in entirety is making a serious move towards crypto, especially Bitcoin at the moment. It is something to consider where these top guys would be siding during an election. If you were to ask me, maybe if I were to be a US citizen it would have been Trump. Without digging deeper, his interest for crypto would have caught my attention. I am just wondering if I am being biased here.
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Anyway, I have liked Trump before now. I have read his business books and have learnt a lot especially 'The Midas touch' which was co-written by one of my favorite writers Robert Kiyosaki. So you see, I have been keeping a secret admiration for Trump to be President and he has indeed made history to re-run and win. He has lived to expectations when I check back on his book I read. I remember the wise quote he said his father taught him, "Get in, get it done, get it done well, get out"---Fred C. Trump. Let's just hope we see a better America as the years unfold.
Did you observe the market pump, of course it wasn't that radical but the signs were very clear. Maybe this was why October wasn't that bullish if it was. Political uncertainties kept the crypto market in skepticism. When I peeped in yesterday to see bitcoin kiss the 75K mark I knew something was up. Trump was leading in the polls and before we knew it he secured the 270 needed electoral votes. Crypto enthusiast will indeed be very excited in the process, beyond just green candles moves I feel if the US government should give a positive attention to crypto and blockchain technology, a lot will be achieved globally. We are looking at so many financial uncertainties and we've seen Trump eye making crypto a needed hedge in government funds.
Green stocks too
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Some stocks leaped yesterday courtesy of Trump's victory. There were Wednesday market climbs, Banking stocks saw upward market shifts. Nevertheless, we don't know how it will evolve over a couple of weeks. I personally sense a correction, it will present opportunities over time. Maybe this was why the oracle of Omaha, Warren Buffet pulled out almost all his investment to keep more than $320 billion cash. It should have been a wait for the Republican Party to take power. New industries will definitely burst out with potential opportunities to buy in early, something that Warren Buffet knows best. Tesla tested victory yesterday while other competing electric industries saw market decline. Elon Musk has been a supporter of Trump's campaign and I feel his company will stand to be a full beneficiary.
Bitcoin kissed 76K mark this morning. I feel it is likely to surpass that before tomorrow runs out. More confidence is gradually entering the crypto market and bitcoin to be more specific. We should be expecting a rally when Trump makes an official speech during his swearing in. Enthusiasts will have to wait till January. We are expecting an inauguration on January 20th, 2025. The question of what future does the crypto industry have over the next decade will start unraveling gradually. We only hope Mr Trump sticks to promises. As for green candles, more will be coming. There will be investor inflow overtime to test and invest on crypto products. This is something that developers should be looking forward to rather than just green candles. It adds up to give a future for web3 when even incorporated with artificial intelligence.
To conclude, let me add, we saw green moves in the crypto market as the Republican party will take over the United States by the first month of next year. The world of finance will be bending another direction as world power country US invite Donald Trump to once again revive the Us economy. Is virtual assets the solution? Time will tell.
Posted Using InLeo Alpha