JPMorgan: Bitcoin will continue to benefit from Trump's victory in the next eight weeks or so
According to a report released by JP Morgan on Thursday, it believes that Bitcoin will continue to benefit from the Republican victory in the US presidential election. The report states that Trump's victory will produce similar reactions to those in 2016 in the next eight weeks. Although Bitcoin soared and gold prices fell due to Trump's victory, his policies may support both in 2025. When traders try to hedge against currency depreciation and geopolitical resistance, both gold and Bitcoin may benefit from "devaluation trading". JP Morgan believes that Trump has repeatedly stated that he will support the digital asset industry and raise tariffs, both of which may ultimately help Bitcoin.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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