-5 upvotes, 2 direct replies (showing 2)
View submission: Bitcoin (BTC) This Week - Hide The Pain
The price of bitcoin was literally 74k the day before he got elected, it rocketed up after and now it's back to around the same levels lol. I dont even like Trump but you guys on Reddit are so politically obsessed that you care more about manipulative political wins than the truth lol
Comment by Interesting-Pin1433 at 09/03/2025 at 22:58 UTC
7 upvotes, 1 direct replies
If he keeps his foot on the gas with tariffs and firings, and Congress moves forward with significant budget cuts (more than the for show stuff DOGE is doing), I don't see how we could have any result but an economic downturn.
When there is an economic downturn, crypto, like other assets, gets impacted.
I'm not saying this as commentary on the political right or wrong aspect of the goal of massively reducing the scope of the federal government. It is just economic fact - the government is a massive part of economic activity. And it isn't just liberals like myself acknowledging that this would happen/is happening.
Last fall, Musk said there would be short term difficulties in this process of scaling down the government. Trump's Treasury Secretary Bessent recently said "The market and the economy have just become hooked. We've become addicted to this government spending, and there's going to be a detox period." A detox period. That's a nice way of saying we're gonna hit a rough patch.
I'm long term bullish on Bitcoin, but I think, unless there is a significant, immediate change to Trump's policies, bull run is over.
Comment by joecool42069 at 09/03/2025 at 19:43 UTC*
17 upvotes, 3 direct replies
Go look at the charts again chief. Tell me when the bull run started. I’ll wait.