Donald Trump’s victory in the United States presidential election has injected optimism into the bitcoin (BTC) and cryptocurrency market, taking the digital currency to a new all-time high in recent hours.
For its part, Gold has not had the same luck and its value is beginning to fadeshowing a clear change in investment preferences.
Trump has won the race to reach the White House over the Democratic candidate and current vice president, Kamala Harris, which has sparked a frenzy in the markets.
One of the assets that has been most impacted by his victory has been bitcoin, reaching $75,300 as the election results were announced in the United States.
As Trump consolidated his lead in key states, bitcoin saw an 8% increase in just 24 hours.
Analysts establish support for bitcoin
In his social network account X, the market analyst Alí Martinez warned: “If you are late to the bullish party, be careful.”
Martínez points out that, according to TD Sequential, a technical analysis tool, the price of bitcoin could be about to decrease in the short term, especially on the 4-hour chart.
If this sell signal is confirmed, BTC could drop to $72,000, although, if it consolidates above 75,400, the uptrend could continueand would even allow BTC to reach $78,000.
For his part, the analyst Michaël van de Poppe believes that, if bitcoin maintains support in the $72,000 area, there is a positive margin for it to drive an increase in the near future.
“The markets are finally waking up and alternative season is just around the corner!” he enthused.
According to analysts at the investment company, Bernstein, Trump victory could push bitcoin to $90,000 in the coming weeks and 200,000 dollars in the next year, as reported by CriptoNoticias.
Bitcoin, an ally in the Trump campaign
Donald Trump began his path back to the White House leaning firmly on bitcoin and cryptocurrencies, promoting these assets as a central part of its economic platform.
At multiple rallies on his tour of the United States, Trump proposed initiatives such as the creation of a national bitcoin reserve and the promotion of regulations that favor cryptocurrency mining.
He also highlighted that bitcoin could be a solution to the United States’ debt problem, an approach that quickly caught the interest of prominent figures in the sector such as twins Tyler and Cameron Winklevoss, founders of the Gemini exchange; Marc Andreessen, of Andreessen Horowitz; and Ryan Selkis, of Messari.
In fact, during his time in New York City, Trump gave a signal clear of his support by paying for a round of burgers in bitcoin, a gesture that reinforced his public commitment to digital assets.
This support has encouraged confidence among investors in digital assets, those who see bitcoin as a more attractive option than gold.
Gold loses ground against bitcoin
Gold, for its part, has not suffered the same fate as bitcoin. After having achieved historical highs in the last month and at the beginning of November, The price of the precious metal has begun to decline after the election results.
In the first 24 hours, the value of an ounce of gold went from 2,750 dollars to 2,661 dollarsas seen in the following graph of TradingView.
This may be due to several factors. Trump’s open support for bitcoin is likely to have influenced many investors, especially those interested in alternative assets, who perceive digital currency as an attractive option and increase their participation in it instead of gold.
By being a pro-bitcoin leader who proposes clearer and more favorable regulations towards cryptocurrencies, It has generated confidence in institutional investors to take their money to bitcoin.
This increase in institutional trust causes bitcoin be seen as a safe and reliable haven, reducing interest in gold.
Bitcoin will be Trump’s workhorse
Analyst Ryan Watkins, co-founder of Syncracy Capital, points out that the expansion of global liquidity and the possibility of a strategic BTC reserve in the United States could unleash a bitcoin accumulation race.
“Cryptocurrencies are clearly becoming the electoral business and will likely be the fastest workhorse for the foreseeable future.”
Ryan Watkins, co-founder of Syncracy Capital.
He adds that although there are risks of inflation, geopolitical tensions and tariffs in the Trump administration, The current context is favorable for a market rebound in the next three to six months.
Watkins concludes that, after years of being considered dead assets and artificial intelligence having taken center stage, cryptocurrencies are ready to regain their place as “the greatest show on earth.”
With Trump’s election and his support for bitcoin, the market appears to have shifted toward the digital currency, marking a turning point for gold and setting the stage for an era of financial innovation.