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Recently, the Crypto Assets market has been buzzing due to a major news story. According to reports, Trump stated in his latest speech that if he returns to the White House in November of this year, he will promote the "parity" between Crypto Assets and the US Dollar, and consider abolishing the related Capital Gains Tax, making Bitcoin a legal means of payment.
This statement immediately triggered a strong reaction in the market. Bitcoin price surged by 8% in just 15 minutes, Ethereum broke through the $4300 barrier, and Dogecoin even doubled in a single day. This extreme volatility reminds one of 2021, when a single remark from Trump caused Dogecoin to skyrocket by 500%.
The Trump team seems to be prepared for this. According to reports, they have drafted relevant policy proposals, planning to allow banks to directly participate in Crypto Assets business, and even considering including Bitcoin in the investment portfolio of sovereign funds. If these initiatives can be implemented, they will undoubtedly greatly enhance the mainstream status and market recognition of Crypto Assets.
However, this proposal has also sparked controversy. The Democrats quickly responded, criticizing it as a disguised "money handout to Wall Street." This political divide may lead to uncertainty in future policies, posing potential risks for investors.
Faced with such dramatic market changes, investors find themselves in a dilemma. Some believe this is a rare entry opportunity, eager to seize the potential upward trend; others worry that this may be a political hype and choose to wait for clearer signals.
In any case, this event once again demonstrates the significant influence of political factors on the Crypto Assets market. As the US election approaches, Crypto Assets policy is likely to become an important part of candidates' campaign strategies. When making decisions, investors need to closely monitor political trends in addition to focusing on technical and market factors to better grasp market trends.