7 upvotes, 1 direct replies (showing 1)
View submission: Bitcoin (BTC) This Week - Hide The Pain
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 Echochamberking at 10/03/2025 at 00:03 UTC
-2 upvotes, 1 direct replies
The budget that the GOP presented has a 3 trillion deficit dude, what cuts are you talking about?