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November 8, 2024

Crypto Surge After Election: My Take

Crypto Surge After Election: My Take

The 2024 US presidential election has come and gone, and it seems like the crypto market is throwing a party. Bitcoin and Ethereum are hitting numbers we haven’t seen before, and it’s all thanks to Donald Trump. His victory—along with some favorable policies for crypto—has got investors feeling bullish. But as always, I’m a bit skeptical.

Crypto Market Volatility

Now, if you’ve been in crypto for any length of time, you know that volatility is our middle name. But this election? It’s added a whole new flavor of chaos. Trump’s win—and let’s be honest, it was a shocker—is creating waves. His promises to make the US the “crypto capital” and even talk about a bitcoin “strategic reserve” are pushing some serious buttons for investors.

The Numbers Don’t Lie

Check this out: Bitcoin just hit over $77K. That’s an all-time high! And Ethereum isn’t far behind, creeping up towards $3K after months of dormancy. Just yesterday, over $260 million in liquidations happened—mostly from traders who were way too confident about their short positions.

The Dangers of Over-Leveraging

And speaking of confidence… let’s talk about over-leveraged trading for a sec. It can be your best friend or your worst enemy. Just look at that $23 million short liquidation on Ethereum! When you’re betting big on futures and things go sideways, well… let’s just say it gets messy.

Political Events vs Market Fundamentals

Here’s where I stand: yes, political events can swing markets hard. But they’re usually temporary unless backed by solid fundamentals. Trump’s pro-crypto stance might be giving us a nice boost now, but what happens when the next election cycle rolls around? Or if something else major happens?

How I Plan to Navigate This Chaos

So how do I plan to survive (and maybe thrive) in these turbulent waters? Here are my thoughts:

First off, risk management is key! I’m talking stop-loss orders and not putting all my eggs in one basket (or crypto). Second, using trading bots might not be such a bad idea; they take emotions out of trading—which can be my downfall sometimes. Lastly, staying informed is crucial; knowing what’s happening politically can help anticipate those big swings.

Summary: What Lies Ahead?

In closing: yes, the recent surge post-election shows just how intertwined politics and markets can be. As we ride this wave (or possibly crash down), I’ll be sticking to my strategies and keeping an eye on both market fundamentals and political landscapes.

Are we witnessing a new era for crypto? Or just another blip on the radar? Time will tell…

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Alina Garaeva
About Author

Alina Garaeva: a crypto trader, blog author, and head of support at Cryptorobotics. Expert in trading and training.

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Alina Tukaeva
About Proofreader

Alina Tukaeva is a leading expert in the field of cryptocurrencies and FinTech, with extensive experience in business development and project management. Alina is created a training course for beginners in cryptocurrency.

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