This presidential election played a pivotal role in most crypto enthusiasts' lives. On one hand, Democrats staying in power would keep cryptocurrency markets in limbo, while a Republican victory would mean a new era where the industry is given the chance to thrive.
Since the latter happened, crypto enthusiasts everywhere have rejoiced as pro-crypto forces are finally taking charge of both the Senate and the House. As a direct result, in a short period, Bitcoin reached a new all-time high - an incredible price of $76,000.
The same pattern is also apparent with other crypto assets (meme coins) as the entire market grew by over 5%.
Let’s see if the trend will continue and how you, as an investor, can best capitalize on this bull run.
Historical data never lies
This surge in Bitcoin’s value is not new. Presidential elections generally pump up the value of most crypto assets. For example, in 2020, Bitcoin also started growing in value over the next year - from $13,000 to over $60,000.
This is why many analysts were hyped as late as September. Crypto expert PlanB accurately predicted the winner of the presidential election. According to their opinion, the Trump administration will have a positive effect on the market - to the point that Bitcoin will rise to an astonishing $200k by the beginning of the next year.
While this may be overly enthusiastic, it’s undeniable that Trump’s victory has the potential to usher in the crypto into a new era. Matt Hougan, CIO of Bitwise, is of the opinion that we’re likely to see the golden age of crypto with Bitcoin expected to grow beyond $100,000 next year.
At the time of writing, Bitcoin reached the $76,000 mark. The overall momentum is positive and there are suggestions the next resistance price will be $2,000 higher. Although a slight bearish correction is inevitable, with $59.67 billion in trading volume on November 8th, Bitcoin is on route to eventually breaking out above $100,000 if the crypto market continues on its current trajectory.
Written by seasoned experts, who have over 16 years of experience in Free Zones development. Learn more.
How are altcoins stacking up?
Along with Bitcoin, altcoins are also riding this growth wave with plenty of coins hitting their all-time highs after the election. For instance, Solana is on an upward trajectory, reaching a respectable $203.35 on November 8th.
A similar trend can be seen with meme coins. Shiba Inu, a popular name in the sector, has been hovering in the $0.00001900 territory for a few days, with investors waiting for it to break out above $0.00002000.
What does this mean for you, the investor?
It means you’ll have plenty of options during this bull run.
Most coins are performing well, but you should look beyond just the mainstream assets. In fact, it may be wise to find fresh meme projects with lower market caps. One such, Shiba Galaxy ($SHIBG), is a brand new meme coin currently going through its pre-sale and more importantly, exuding an aura of quality on all fronts.
Will Shiba Galaxy ride the bull?
Most larger cryptos have market caps exceeding billions of dollars, not leaving much room for sizable earnings. By comparison, the Shiba Galaxy comes with a market cap of $30 million, which is a rare find in itself.
Beyond raw numbers, Shiba Galaxy is actually reinventing the meme coin sector by focusing on utility instead of just meme value. As an L2 blockchain meme coin, it offers instantaneous bridging between the Shiba Galaxy Chain and Ethereum, allowing users to enjoy lightning-fast transactions and low fees - a stark contrast to how things work in the world of meme coins.
Where this project shines is its overall goal - making meme coins more respectable. By offering an ecosystem with a dedicated block explorer and a builder, the team is trying to attract both investors and developers and make it super easy to mint new meme coins.
Make no mistake, this is a serious project that muddies the differences between mainstream crypto assets and meme coins. For example, Shiba Galaxy supports staking, which is a true testament to how community-centric this project really is.
The pre-sale is currently in full swing. You can purchase $SHIBG through the official website for just $0.105.
Ready for crypto’s golden age?
As we’re looking at an industry that is peaking by all accounts, it’s natural to be excited for things to come. Bitcoin and other large cryptocurrencies may experience massive growth in the next few months, leaving everyone wondering if the next year will be the year when crypto goes full-on mainstream.
Either way, this is your chance to ride the massive bull wave, and it’s not a bad idea to stack up on large crypto while also scouting out growing projects, like the aforementioned Shiba Galaxy. It’s all about diversification during this bull run, and supporting projects of different sizes puts you in the best position to come out of this period on top.
