The Trump Effect: How a Second Term Could Shape the Future of Crypto? Octa View
Tuesday,26/11/2024|12:29GMTby
Finance Magnates
In the early hours of the Asian trading session on 6 November, as the first results of the U.S. Presidential elections started to hit the wires and it became increasingly clear that Donald Trump would return to the White House, BTCUSD hit a new all-time high.
Bitcoin, the world's most famous digital currency, has demonstrated an
impressive performance following the U.S. presidential elections, in which
Donald Trump, a Republican candidate, achieved a decisive victory. Although it
has been widely speculated that Bitcoin would rally under Trump, a 30% rise in
value in the course of just two weeks surprised even the most ardent crypto
bulls. In this article, Octa, a global broker, sheds light on what awaits the
crypto industry in general and Bitcoin in particular going forward.
In the
early hours of the Asian trading session on 6 November, as the first results of
the U.S. Presidential elections started to hit the wires and it became
increasingly clear that Donald Trump would return to the White House, Bitcoin
(BTCUSD) hit a new all-time high. According to Coinbase, BTCUSD closed at
75,645 on 6 November, above the previous record of 73,835. Since then, Bitcoin
has been establishing new all-time highs essentially every single day. Overall,
it has risen by more than 30% since 5 November. The stocks of companies either
directly or indirectly involved in cryptocurrencies, such as Nvidia and
MicroStrategy, also marched higher in
response to election results.
Such a
favourable market reaction to Trump's victory stems from investors' belief that
his Administration, coupled with a friendly Congress, will effectively
deregulate the crypto industry, facilitate its expansion and implement a
coherent regulatory framework that will serve investors and consumers for years
to come. 'It should be said, argues
Kar Yong Ang, a financial market analyst at Octa broker, that this belief is not without foundation. Trump has managed to lure
many crypto fans to his side with his bold moves, clear views and a strong
focus on deregulation'.
Indeed, as
Octa explained in some of its previous articles, Trump has been a lot more
explicit in his support of crypto than Kamal Harris. Unsurprisingly, many
crypto enthusiasts, as well as some serious crypto investors, supported Trump
over Harris. For example, in a rather bold move, Donald Trump attended a
Nashville Bitcoin conference in July, where he advocated for creating a federal
Bitcoin reserve and highlighted the importance of attracting more Bitcoin
mining operations to the United States. Another crypto-friendly gesture was
Trump's alleged promise to fire Gary Gensler, the Chairman of the Securities
and Exchange Commission (SEC), whom many in the cryptosphere regard as an
adversary due to his numerous lawsuits against crypto projects. Under a new
leader appointed by Donald Trump, the SEC could potentially provide a more
favourable regulatory environment for digital assets. Furthermore, now that
Republicans are in full control of both the Senate and the House of
Representatives, Donald Trump has a door wide open to push forward his agenda.
This is what the official 2024 Republican Party Platform said about crypto:
'Republicans will end Democrats' unlawful and
un-American crypto crackdown and oppose the creation of a central bank digital
currency. We will defend the right to mine Bitcoin and ensure every American
has the right to self-custody their digital assets and transact free from
government surveillance and control'.
Needless to
say, the new Congress is a lot more likely to enact legislation favourable to
the crypto industry. 'As things
currently stand, I believe there is every reason to expect the approval of more
crypto-focused ETFs [exchange-traded funds] that, for example, may be based on
other cryptocurrencies, like Solana and XRP. Who knows, we might even get a
Dogecoin ETF. Why not? Dogecoin is Elon Musk's favourite crypto token, and Elon
certainly has some weight on Trump's team', said Kar Yong Ang, a financial market
analyst at Octa broker. Interestingly, according to CoinmarketCap, the value of
Dogecoin has more than doubled since 5 November.
Major Cryptos in 2024 (31-12-2023 = 0); Source: Octa Trader calculation based on Refinitiv data
Regulatory
easing triggers innovation, and more crypto products may enter the mainstream
financial markets. This could potentially lead to increased institutional
investment in cryptocurrencies, as ETFs provide a more accessible and regulated
way for investors to gain exposure to the market.
Despite the
recent price surge and record-high valuations, Bitcoin remains in demand. On
Monday, MicroStrategy Incorporated disclosed that it had added 52,000 Bitcoins
to its portfolio worth $4.6 billion over the last week, marking the largest
purchase in the company's history. The key question now is—can the rally continue?
Kar Yong
Ang, a financial market analyst at Octa Broker, has this to say: 'Franky, I'm beginning to have a bad
feeling about this naked optimism. Euphoria rarely ends well, and this euphoria
has been going on for a bit too long now. When expectations run high, the risk of a major disappointment rises,
and I think we might see increased volatility in Bitcoin with perhaps a major
downward correction around the corner. At the same time, the long-term future
looks bright, especially if the Trump administration does go aheadwith its plan to establish a federal
Bitcoin reserve'.
The exact
mechanics of creating this new national Bitcoin reserve remain unclear. Still,
if the U.S. government were to start acquiring Bitcoin through open market
purchases, the potential upside for the cryptocurrency could be enormous. Also,
the direct involvement of the U.S. government will significantly bolster
Bitcoin's intrinsic value and legitimise it as a mainstream asset. As Kar Yong
Ang explains, 'the supply of Bitcoin is
limited, so assuming the U.S. government does not engage in direct mining, the
only way to fill up the reserve is via direct purchases. This intention, if
there is one, better be kept secret because it will certainly take Bitcoin to
the moon'.
About Octa:
Octa is an
international broker that has been providing online trading services worldwide
since 2011. It offers commission-free access to financial markets and a variety
of services used by clients from 180 countries who have opened more than 52
million trading accounts. To help its clients reach their investment goals,
Octa offers free educational webinars, articles, and analytical tools.
The company
is involved in a comprehensive network of charitable and humanitarian
initiatives, including the improvement of educational infrastructure and
short-notice relief projects supporting local communities.
Since its
foundation, Octa has won more than 70 awards, including the ‘Best Forex Broker
2023’ award from AllForexRating and the ‘Best Mobile Trading Platform 2024’
award from Global Brand Magazine.
Bitcoin, the world's most famous digital currency, has demonstrated an
impressive performance following the U.S. presidential elections, in which
Donald Trump, a Republican candidate, achieved a decisive victory. Although it
has been widely speculated that Bitcoin would rally under Trump, a 30% rise in
value in the course of just two weeks surprised even the most ardent crypto
bulls. In this article, Octa, a global broker, sheds light on what awaits the
crypto industry in general and Bitcoin in particular going forward.
In the
early hours of the Asian trading session on 6 November, as the first results of
the U.S. Presidential elections started to hit the wires and it became
increasingly clear that Donald Trump would return to the White House, Bitcoin
(BTCUSD) hit a new all-time high. According to Coinbase, BTCUSD closed at
75,645 on 6 November, above the previous record of 73,835. Since then, Bitcoin
has been establishing new all-time highs essentially every single day. Overall,
it has risen by more than 30% since 5 November. The stocks of companies either
directly or indirectly involved in cryptocurrencies, such as Nvidia and
MicroStrategy, also marched higher in
response to election results.
Such a
favourable market reaction to Trump's victory stems from investors' belief that
his Administration, coupled with a friendly Congress, will effectively
deregulate the crypto industry, facilitate its expansion and implement a
coherent regulatory framework that will serve investors and consumers for years
to come. 'It should be said, argues
Kar Yong Ang, a financial market analyst at Octa broker, that this belief is not without foundation. Trump has managed to lure
many crypto fans to his side with his bold moves, clear views and a strong
focus on deregulation'.
Indeed, as
Octa explained in some of its previous articles, Trump has been a lot more
explicit in his support of crypto than Kamal Harris. Unsurprisingly, many
crypto enthusiasts, as well as some serious crypto investors, supported Trump
over Harris. For example, in a rather bold move, Donald Trump attended a
Nashville Bitcoin conference in July, where he advocated for creating a federal
Bitcoin reserve and highlighted the importance of attracting more Bitcoin
mining operations to the United States. Another crypto-friendly gesture was
Trump's alleged promise to fire Gary Gensler, the Chairman of the Securities
and Exchange Commission (SEC), whom many in the cryptosphere regard as an
adversary due to his numerous lawsuits against crypto projects. Under a new
leader appointed by Donald Trump, the SEC could potentially provide a more
favourable regulatory environment for digital assets. Furthermore, now that
Republicans are in full control of both the Senate and the House of
Representatives, Donald Trump has a door wide open to push forward his agenda.
This is what the official 2024 Republican Party Platform said about crypto:
'Republicans will end Democrats' unlawful and
un-American crypto crackdown and oppose the creation of a central bank digital
currency. We will defend the right to mine Bitcoin and ensure every American
has the right to self-custody their digital assets and transact free from
government surveillance and control'.
Needless to
say, the new Congress is a lot more likely to enact legislation favourable to
the crypto industry. 'As things
currently stand, I believe there is every reason to expect the approval of more
crypto-focused ETFs [exchange-traded funds] that, for example, may be based on
other cryptocurrencies, like Solana and XRP. Who knows, we might even get a
Dogecoin ETF. Why not? Dogecoin is Elon Musk's favourite crypto token, and Elon
certainly has some weight on Trump's team', said Kar Yong Ang, a financial market
analyst at Octa broker. Interestingly, according to CoinmarketCap, the value of
Dogecoin has more than doubled since 5 November.
Major Cryptos in 2024 (31-12-2023 = 0); Source: Octa Trader calculation based on Refinitiv data
Regulatory
easing triggers innovation, and more crypto products may enter the mainstream
financial markets. This could potentially lead to increased institutional
investment in cryptocurrencies, as ETFs provide a more accessible and regulated
way for investors to gain exposure to the market.
Despite the
recent price surge and record-high valuations, Bitcoin remains in demand. On
Monday, MicroStrategy Incorporated disclosed that it had added 52,000 Bitcoins
to its portfolio worth $4.6 billion over the last week, marking the largest
purchase in the company's history. The key question now is—can the rally continue?
Kar Yong
Ang, a financial market analyst at Octa Broker, has this to say: 'Franky, I'm beginning to have a bad
feeling about this naked optimism. Euphoria rarely ends well, and this euphoria
has been going on for a bit too long now. When expectations run high, the risk of a major disappointment rises,
and I think we might see increased volatility in Bitcoin with perhaps a major
downward correction around the corner. At the same time, the long-term future
looks bright, especially if the Trump administration does go aheadwith its plan to establish a federal
Bitcoin reserve'.
The exact
mechanics of creating this new national Bitcoin reserve remain unclear. Still,
if the U.S. government were to start acquiring Bitcoin through open market
purchases, the potential upside for the cryptocurrency could be enormous. Also,
the direct involvement of the U.S. government will significantly bolster
Bitcoin's intrinsic value and legitimise it as a mainstream asset. As Kar Yong
Ang explains, 'the supply of Bitcoin is
limited, so assuming the U.S. government does not engage in direct mining, the
only way to fill up the reserve is via direct purchases. This intention, if
there is one, better be kept secret because it will certainly take Bitcoin to
the moon'.
About Octa:
Octa is an
international broker that has been providing online trading services worldwide
since 2011. It offers commission-free access to financial markets and a variety
of services used by clients from 180 countries who have opened more than 52
million trading accounts. To help its clients reach their investment goals,
Octa offers free educational webinars, articles, and analytical tools.
The company
is involved in a comprehensive network of charitable and humanitarian
initiatives, including the improvement of educational infrastructure and
short-notice relief projects supporting local communities.
Since its
foundation, Octa has won more than 70 awards, including the ‘Best Forex Broker
2023’ award from AllForexRating and the ‘Best Mobile Trading Platform 2024’
award from Global Brand Magazine.
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🏆 Award Highlight: Most Innovative Broker of the Year 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
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In this wide-ranging discussion, Hannah shares insights on:
🔹What winning the Finance Magnates award means for AXI’s credibility and innovation
🔹How the launch of AXI Select, the capital allocation program, is redefining industry standards
🔹The development and rollout of the AXI trading app across multiple markets
🔹Driving brand evolution alongside technological advancements
🔹Encouraging and recognizing teams behind the scenes
🔹The role of marketing, content, and social media in building product awareness
Hannah explains why standout products, strategic branding, and a focus on innovation are key to growing visibility and staying ahead in a competitive brokerage landscape.
🏆 Award Highlight: Most Innovative Broker of the Year 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
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We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
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👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
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🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
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We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
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