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.
