Trump Isn’t The Only ‘Story’ Driving Bitcoin Higher Says Exec

November 12, 2024

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Donald Trump’s win in the United States presidential election may not be the “main story” driving the Bitcoin price rally, Onramp Bitcoin co-founder Jesse Myers said.

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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 main story here is that we are 6+ months post-halving.”

The Bitcoin BTC$87,319 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...

To read more visit CoinTelegraph.

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