i noticed that my bitcoins got a lot bigger after trump won the election.. are yall having similar results? do you think it's like gas prices where it's based on who is the president?

the market is moving for 2 specific reasons:

1.) Trump announced he wants to create a federal bitcoin reserve

2.) general market raising

when trump was winning gold prices tumbled, gold price is basically a bet against the US economy. and people knew when trump won the chances the market goes up was very high. if the stock market goes up, bitcoin goes up. if bitcoin goes up, alt coins go up. crypto is still 100% tied to traditional markets, even moreso as institutions are now heavily invested in crypto.


that said i expected the gains on election day to be wiped out and see a regression leading up to inauguration. boy was i wrong, and the slim profit i took on election night looks awful now compared to if i held.

This post was edited by thesnipa on Nov 11 2024 12:31pm

not really lol

on the 7days:
- First Digital USD: -0.2%
- USDC: -0.1%
- Dai: +0.0%
- Tether: +0.1%
- Ethena USDe: +0.2%
- Monero: +0.1%

Monero has it's own market and is not even tied to Bitcoin
That's the circular economy, that's what's up

alt season will boom in truth after the BTC bull run ends, then it will fall also.

but alts generally are still tied to BTC, they dont act independantly in general. look at doge, shib, eth, ltc, and many other coins. all up massively in this same BTC bull run, all dip if BTC dips, etc.

right, overall altcoins / shitcoins are tied to btc
xmr isnt an altcoin tho
since monero is actually the one true bitcoin

and monero now has a 10-20 year uphill battle trying to replace bitcoin. good luck. its why i dont bother to invest much into it, i have low confidence. bitcoin took it's lumps and its here to stay.