BTC is on the right track and will continue to rise!
2024-11-10

The direct impact of Trump's victory on Bitcoin (BTC) was that it reached a new all-time high after the election results were announced. This surge came after a period of stability. BTC's reaction is consistent with historical patterns observed in previous election cycles, with each election triggering new highs. Market updates indicate that this trend may continue as BTC takes advantage of Trump's proposed economic policies, especially as investors seek to hedge against possible stock market volatility. Inflows into BTC spot ETFs reached an unprecedented $1.38 billion, further boosting bullish sentiment within the cryptocurrency market.

However, on the other hand, some "Trump trades" have begun to show signs of reversal. The US dollar and Treasury yields have retraced some of their post-election gains, indicating that investors are full of uncertainty about Trump's fiscal agenda, especially regarding proposed tariffs on China and rising US debt levels.
But BTC may become a less risky asset than stocks in this environment and has the potential to benefit from continued demand. If the inflows continue, QCP expects a feedback loop to form, with the rise in BTC prices attracting more retail investors and institutional capital, while volatility remains under control.
Therefore, all signs will be good for BTC and will push BTC to a new height!