Retail Investors Return to Crypto as Trump Pledges Industry Support
Since US President-elect Donald Trump’s campaign pledged to help the cryptocurrency business, interest in cryptocurrencies has increased, with Bitcoin reaching all-time highs. According to market watchers, the increase in search interest and inflows points to a rebound in retail investor interest as well as a possible influx of new purchasers prepared to join the cryptocurrency market. Trump’s win is a significant trigger for the start of the next bull market, according to Ryan Chow, co-founder and CEO of the Bitcoin staking platform Solv Protocol. He was upbeat about the rise of individual investors.
Bitcoin reaching an all-time high is one of the best advertisements for crypto there is.
Chow
Coinbase Stock Drops on Weaker Retail Activity Despite Institutional Growth
Although they have appeared to be dormant during this cycle, retail investors have been crucial to prior Bitcoin bull runs. Since the Securities and Exchange Commission (SEC) authorized spot Bitcoin exchange-traded funds in January, institutional investors have grabbed the lead.
After revealing lower-than-expected revenue from trading fees in its Q3 shareholder letter on October 30, Coinbase, a preferred cryptocurrency exchange among retail traders, suffered a decline in the value of its stock. The revenue of $1.13 billion was less than the $1.26 billion predicted by Wall Street experts, but it was still up more than 81% from the same period last year. The dismal results were mostly caused by a decline in retail trading, which the exchange attributed to “softer market conditions.” Google’s search volume for Bitcoin fell to an all-time low in October, suggesting that retail traders have yet to board the cryptocurrency bull market.
Bitcoin Searches Soar as Trump’s Victory Fuels Retail Investor Optimism
Bitcoin Google searches have increased as a result of Trump’s election victory and the new Bitcoin ATHs. The term Bitcoin surged quickly 24 hours following Trump’s presidential victory, suggesting that retail traders’ perspectives may have changed. Dunn, a Bitcoin educator and cryptocurrency investor, said that Trump’s win was exactly what people needed to feel hopeful about the US cryptocurrency market’s future.
People love a good ‘reason’ to hop on the bandwagon, and this is a compelling one. Now that it looks like the anti-crypto army has been crushed, I expect smaller cap altcoins to get some momentum, too.
Dunn
Dunn added, predicting that retail investors will initially turn to Bitcoin.
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