12 upvotes, 3 direct replies (showing 3)
View submission: Daily Crypto Discussion - February 2, 2025 (GMT+0)
The multiple BTC rallies, including the rally recently to 108K, was based off of "imaginary" Trump, where Trump could do no wrong. For all of Trump's threats and crazy talk, he couldn't act on it before his inauguration, and the market more or less ignored his threats and crazy talk.
Now that it's past his inauguration, we are getting "reality" Trump. No more imaginary Trump, this is how Trump is governing right now. And with Canada and Mexico countering with tariffs, it could end up being an escalating trade war. Let's see if Trump will escalate the tariffs further, after Canada's and Mexico's moves.
Now BTC can still go up if Trump goes through with the BTC reserve, and he comes out with other policies that are pro BTC. But assuming he does nothing substantial for BTC in the coming months, it's possible that "reality" Trump can drag the US and a part of the world, into recession again. Ergo, "reality" Trump is on his way to leading the US into a recession.
If Trump doesn't come out with some pro BTC policies in the next few months, I think "reality" Trump may not be so good for the price of BTC, especially if a recession does happen because of his trade wars.
Comment by The_Nothing00 at 02/02/2025 at 19:02 UTC
1 upvotes, 0 direct replies
He already said he will double tariffs to 50% in response.
Comment by elongjohnson at 02/02/2025 at 08:48 UTC
2 upvotes, 0 direct replies
Exactly the rumour was positive and the news has actually been negative. Short of tax cuts for gains on crypto or a BTC reserve, I’m not sure what he can do now that would be positive. The former is incredibly unlikely imo and the latter may happen but we won’t know until the second half of the year
Comment by Still_Theory179 at 02/02/2025 at 08:23 UTC
-7 upvotes, 0 direct replies
Trump is doing a fantastic job, let the man cook