Trump's weak dollar policy could boost Bitcoin as a hedge against inflation

From Investing.com: 2024-07-23 16:02:00

Former President Trump’s dollar policy diverges from past administrations, potentially benefiting alternative assets. Trump’s campaign highlighting concerns on dollar strength has impacted the sign market. Analysts attribute the rally of to expectations of a weaker dollar under a Trump administration. The launch of spot Bitcoin ETFs and the possibility of Trump winning in 2024 have boosted Bitcoin. Trump and VP pick JD Vance advocate for dollar devaluation.

Bitcoin benefits from dollar weakness, acting as a hedge against inflation. Trump’s economic policies could be nuanced, potentially impacting crypto prices. Various narratives around Bitcoin influence its price, with short-term traders driving immediate actions. Bitcoin remains sensitive to political developments, with market volatility evident. Market participants will monitor monetary policy signals for potential impact on Bitcoin amid the US presidential race.



Read more at Investing.com: Trump Wants a Weak Dollar Policy, and This Could Boost Bitcoin: Report