Editor's PiCK
"Bitcoin (BTC), Uncertain if 'Sell the News' Trend Will Emerge at Trump's Inauguration"
JH Kim
Summary
- K33 Research stated that it is unclear whether a 'sell the news' trend will emerge at Trump's inauguration.
- The report identified macroeconomic headwinds as the cause of the cooling Bitcoin market and noted that Trump's tax cut policies are expected to boost the prices of risk assets.
- It evaluated that the impact of Trump's second administration on Bitcoin is optimistic in the long term.
According to The Block, a cryptocurrency-focused media outlet, on the 14th (local time), cryptocurrency research firm K33 Research recently reported that it is unclear whether a 'sell the news' trend will emerge at the inauguration of U.S. President-elect Donald Trump.
The report stated, "Bitcoin (BTC) surged last year following Trump's election due to expectations of pro-cryptocurrency policies, but the market cooled due to macroeconomic headwinds." It added, "As the inauguration approaches, Trump's tax cut policies, expected to boost the prices of risk assets, may make the 'sell the news' strategy less attractive."
Additionally, it noted, "The impact of Trump's second administration on BTC is optimistic in the long term."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
