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Bitcoin Price Soar Ahead of Trump’s Second Inauguration: What’s Next for Crypto?

As Donald Trump prepares for his second presidential term on January 20, the world’s attention is on the ceremony, and the cryptocurrency market is already reacting. Just hours before Trump’s swearing-in, Bitcoin reached an all-time high of $109,241, marking an impressive 6% surge in just one hour. The cryptocurrency’s rapid climb is fueled by growing speculation that Trump’s administration will usher in pro-crypto policies, creating a promising future for digital assets.

Trump’s Inauguration and Its Impact on Crypto

The inauguration ceremony will begin at 12 p.m. ET (17:00 GMT), with Chief Justice John Roberts administering the oath of office. Trump’s victory over Kamala Harris in the 2024 race has secured his return to the White House, and his promises to transform the U.S. into a global crypto hub are already resonating within the crypto community.

Bitcoin’s price surge is just the beginning, with other cryptocurrencies following suit. Ethereum, for example, has seen a 6% increase, reaching $3,384.20. XRP and Dogecoin also saw notable gains, climbing by 5% and 2.4%, respectively.

Pro-Crypto Moves from Trump’s Administration

Trump’s administration is aligning itself with the cryptocurrency industry, appointing key figures with crypto-friendly views to top positions. Paul Atkins, a former SEC official known for supporting deregulation, is set to lead the Securities and Exchange Commission (SEC). Additionally, David Sacks, a former PayPal executive, has been named White House crypto czar, tasked with crafting a legal framework for cryptocurrencies that the industry has long awaited.

Trump has also formed a new Department of Government Efficiency, with Elon Musk and Vivek Ramaswamy at the helm. This department aims to foster innovation and streamline government operations, likely benefiting the crypto sector.

Expert Predictions for the Future of Crypto

Market analysts are optimistic about what’s to come. Xremlin, a respected expert, believes Trump’s presidency could mark a “golden era” for digital assets. With investments from the Trump family in established cryptocurrencies like Bitcoin, Ethereum, and Solana, confidence in the market continues to grow. Some experts even predict that Trump’s inauguration speech could send Bitcoin prices soaring to $120,000 or beyond.

As Trump’s second term unfolds, the crypto market is likely to experience significant volatility and potential growth, making it a critical period for investors to keep an eye on.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

Also Read: Bitcoin Price Surge: BTC Eyes $110,000 as Buying Pressure Strengthens Amid Market Volatility

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