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Bitcoin, Dogecoin, and… – Top cryptos to buy under Trump’s new presidency
As the world prepares for a new chapter in US politics with Donald Trump at the helm once more, many are wondering which cryptocurrencies could benefit from his presidency. As AMBCrypto, we’ve taken the liberty of analyzing various factors that could drive growth in the crypto market under his leadership.
At the moment, Bitcoin [BTC] is trading near the $100k-mark after a strong six-week gain. This upswing began shortly after Trump’s presidential announcement, and while it’s difficult to pinpoint causality between the two events, we can look at potential factors that could drive growth in the cryptocurrency market.
One such factor is the influence of Elon Musk on the Dogecoin [DOGE] market. As co-lead of the Department of Government Efficiency or D.O.G.E., any official mentions of the department could lead to Dogecoin pumping, similar to what was seen mid-October when a tweet from the department led to a 26% increase in DOGE’s value.
Musk’s tweets have historically played a significant role in shaping DOGE’s price action. During the previous cycle, his involvement contributed to DOGE’s rise. While it is unlikely that a repeat performance would occur, similar market conditions and capital rotation from BTC to top-performing altcoins towards the end of the cycle could result in a more impressive rally than previously seen.
Furthermore, the potential for mining stocks and Spot ETFs to fuel a market shift could also be beneficial to Dogecoin. As seen in previous cycles, these factors have historically had a significant impact on the crypto market, and we may see similar movements under Trump’s presidency.
In conclusion, it is difficult to predict with certainty which cryptocurrencies will benefit from Trump’s presidency, but based on historical data and market analysis, Bitcoin [BTC] and Dogecoin [DOGE] appear to be strong contenders.
Source: ambcrypto.com
