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CryptoIntelligence 2024-11-12 14:33:00

Donald Trump’s Victory Isn’t the Main Reason for November Crypto Rally

Donald Trump’s Victory Isn’t the Main Reason for November Crypto Rally

Donald Trump’s election win in the U.S. may not be “the main story” behind Bitcoin’s recent price surge, with an analyst pointing to a post-halving supply shock instead. “If you’re wondering what’s happening with #Bitcoin… Yes, the incoming Bitcoin-friendly administration has provided a recent catalyst… But that’s not the main story here,” said Jesse Myers, co-founder of Onramp Bitcoin, in a post on X on Nov. 11. “The main story here is that we are 6+ months post-halving.” The Bitcoin halving in April reduced block rewards from 6.25 BTC to 3.125 BTC, creating a scarcity effect as fewer BTC are

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