Analysis: The halving cycle effect plus Trump's deregulation may boost BTC higher

Odaily Planet Daily Report: Mark Palmer, a senior analyst at investment bank The Benchmark Company, pointed out that in the past three halving events, Bitcoin has seen "significant upward movement" in the following 14-16 months, proving that changes in supply and demand have an impact on the prices of cryptocurrencies. Bitcoin's price may also be supported by a more crypto-friendly environment, as investors expect that Trump's second term could help drive up cryptocurrency prices. Traders are anticipating that the president-elect, who has been dubbed the "Cryptocurrency President", will relax regulations and may even establish a Bitcoin strategic reserve, which he proposed a few months before the election. It is also reported that Trump is interviewing candidates for a White House position specifically focused on cryptocurrency policy, and the winner may be given the title of the first-ever "Cryptocurrency Czar". Mark Palmer believes that this role itself would be beneficial for Bitcoin. He said: "The mere fact that someone will be focused on making the United States a leader in cryptocurrencies and Bitcoin mining is a huge change."