While Donald Trump's election as president has sparked a major rally in Bitcoin and altcoins, a new era with a moderate approach is expected to begin for the cryptocurrency market after he takes office on January 20.
According to Coindesk, JPMorgan stated that the Trump administration is heralding a new era for cryptocurrencies in the United States.
JPMorgan analysts led by Kenneth Worthington noted in their recent report that the total value of the cryptocurrency market has increased by approximately 65% since the election of Donald Trump.
At this point, analysts stated that Trump's victory in the November presidential elections heralded a new era for cryptocurrencies in the USA.
“This new administration that came with Trump is not only crypto-friendly, but also shows a willingness to promote this asset class.
The worst regulatory environment for crypto markets is now behind us. This change will pave the way for a more constructive regulatory approach, especially in terms of regulatory approaches. It is expected to become a safer, more transparent and more productive sector after Trump’s inauguration.
However, it may take 9 to 12 months for the positive impact of the new policies on the cryptocurrency sector to be fully felt.”
In other words, analysts emphasized that a period of at least 9-12 months is needed for a Trump victory to have a bullish effect on Bitcoin and altcoins.
Analysts stated that Trump's victory would mark the beginning of a new era in the US, and that the Trump administration has not yet nominated a candidate for the chairmanship of the Commodity Futures Trading Commission (CFTC), but the selection of the CFTC chairman would be important.
Analysts noted that the CFTC position is particularly important as it is likely to impact the regulation of Bitcoin (BTC) and Ethereum (ETH).
*This is not investment advice.
