6 upvotes, 1 direct replies (showing 1)
View submission: Trump does not understand Bitcoin
Like it or not, Trump is in control of where bitcoin's value goes from here
Remember, the value is up because lots of people think/hope the value will keep going up
If enough people have a reason to believe the value *won't* keep going up, then it won't
Comment by BTCMachineElf at 09/03/2025 at 13:18 UTC
2 upvotes, 1 direct replies
Trump has influence but he's far from all-powerful. Hell, the market didn't even react to his crypto-summit.
Medium-term price action is based on psychology. But but in the long term, supply is king. The bitcoin is still being bought up and is going to run out. It doesn't matter what Trump says or does, that isn't going to change. Most Americans, and the rest of the world, have no faith in Trump anyways.
Bitcoin was going up this year regardless. Trump's actions only accelerate it, they're not the sole or even primary reason at this point. Hell, where we are now is likely simply where we would've been without the Nov 4th Trump pump.