Trump isn’t the only ‘story’ driving Bitcoin’s price higher, says exec
Donald Trump’s win in the United States presidential election may not be the “main story” driving the Bitcoin price rally, says Onramp Bitcoin co-founder Jesse Myers.
Donald Trump’s election victory in the United States is unlikely “the main story” behind Bitcoin’s recent pump — with an analyst pointing instead to a post-halving supply shock.
“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 Onramp Bitcoin co-founder Jesse Myers in a post on X on Nov. 11.
The Bitcoin (BTC) halving in April cut block rewards from 6.25 BTC to 3.125 BTC, which means every next block becomes harder to solve for less reward.