The US election has finally come to an end.
The American people have decided the direction of the country for the next four years with their votes.
After this election, the Republican Party not only won the presidency, but also controlled the Senate and is likely to consolidate the majority in the House of Representatives.
The Republican Party will have a monopoly on "power".
This high degree of centralization means that Trump will not face too many obstacles in implementing his policies in the next administration.
It is also worth noting that the next four-year term will be Trump's last term. From the perspective of governance, he does not have the pressure of re-election, so he will not have too many concerns in policy-making and will fully transform America according to his own ideas.
Now, both the objective environment and subjective will allow him to go all out and unleash his full potential.
Whether the next four years will be radical or crazy for America and the world, we shall wait and see.
With Trump wielding so much power, the biggest concern for participants in the crypto ecosystem is what kind of crypto policies Trump will implement.
The market is the best reflection of people's expectations. Just as Trump was leading by a large margin, Bitcoin surged to a new high, exceeding $75,000 at one point.
This shows how high people's expectations of Trump are.
After Trump's election, someone summarized Trump's views expressed at this year's Bitcoin conference, and I have extracted the more important points that are directly relevant to us:
- Will fire Gary Gensler and appoint a new SEC chairman.
- If elected, will establish a strategic national Bitcoin reserve for the US government.
- The US government will retain 100% of its Bitcoin.
- The US will become the global capital of cryptocurrencies and the world's Bitcoin superpower.
If Trump genuinely embraces crypto assets and recognizes the critical importance of crypto technology in future international competition, he will certainly be able to and will do the above.
In addition, apart from the crypto industry, from Trump's overall governance approach, his domestic policy will basically continue the traditional Republican approach of small government, reduced intervention, deregulation of businesses, and tax cuts for businesses.
Therefore, from his overall approach, even in the worst case, he will not impose too much intervention on the crypto industry, which is the biggest difference from the Democratic government.
As long as there is not too much intervention, I believe the crypto industry and businesses in the US will be much better off in the coming days than they are now.
So whether from his separate attitude towards the crypto industry or from his overall approach, the crypto industry in the US will have a relatively relaxed environment in the next four years.
If he can also implement some of the policies he has promised, crypto assets will certainly have more upside potential.
However, I still maintain a certain degree of caution about the extent to which this single pull from the US government can benefit the entire crypto ecosystem.
First, from the existing rhetoric of Trump and traditional US politicians, their focus and attention is mainly on Bitcoin.
In addition, when Trump was leading and Bitcoin was surging to new highs, I noticed that other coins (including ) only saw modest gains, with their attention-grabbing ability completely incomparable to Bitcoin.
So I increasingly feel that if the crypto ecosystem only has this single pull from the US government (without internal application ecosystem innovation), then in the future trend, perhaps only Bitcoin will benefit the most, while other coins will simply follow the rise, but most will find it difficult to outperform Bitcoin in terms of gains.
This kind of rise lacks momentum.
Previously, I estimated that Bitcoin could reach $100,000 next year, and now I believe this even more.
However, more and more people are calling for $150,000 or even $200,000, which I don't dare to imagine.
Because it is difficult to judge how long this situation of simply being positive for Bitcoin can last and how high it can push Bitcoin's price. Trump's story may be told for a few months, but for half a year? For a year?
If there is no sustainability, what force can stubbornly drive up the price of Bitcoin?
Rely on big capital to keep propping up the market?
Even if the US government includes it in its strategic reserves, that is a long-term, gradual process, not an overnight success.
I still hope that the entire crypto ecosystem can "join hands" with both external support and internal application innovation, so that not only Bitcoin will surge, but also a large number of mainstream coins in the ecosystem will have gains exceeding Bitcoin, so that the crypto ecosystem can usher in the bull market we expect.
The new president, who wields great power, will take office in January next year, and a series of his policies will be rolled out in the first one or two months after taking office.
I hope that next year we will witness a new chapter in the crypto ecosystem.
