Has the Cryptocurrency Market Seen the Last of the "Trump Bump"?
Cryptos were supposed to skyrocket in value during a Trump presidency. They still might.
Heading into 2025, many top cryptocurrencies were soaring in value -- and for good reason. The incoming Trump administration positioned itself as the most pro-crypto administration in history. Numerous promises made by President Donald Trump on the campaign trail were expected to boost the prospects of the crypto industry.
Unfortunately, the so-called Trump bump did not last long. Bitcoin (CRYPTO: BTC) is now trading at nearly the same level it was just after the election. And some top cryptocurrencies are now down as much as 45% for the year. So it's perhaps only natural to ask: Have we seen the last of the Trump bump in the crypto market?
On the regulatory front, the Securities and Exchange Commission has already dropped several high-profile cases against crypto companies, and is sending signals that it will take a more favorable view of the crypto industry. Former SEC head Gary Gensler has left and will soon be replaced by Paul Atkins, known for his pro-crypto views.
