Expert Predicts Impact of Donald Trump on Cryptocurrency Market

Grigory Shchukin, founder of WAYMORR, discussed the potential ramifications of Donald Trump's victory in the upcoming U.S. presidential election on the cryptocurrency market. He highlighted the complexity of predicting specific outcomes due to Trump's victory, emphasizing the uncertainty surrounding his potential policies regarding cryptocurrencies.

Shchukin emphasized the parallel nature of political decisions and cryptocurrency markets, stressing that the latter has become increasingly global and decentralized. He noted that while political changes in significant countries like the U.S. may influence short-term market fluctuations, the long-term trajectory is more significantly shaped by technological advancements and blockchain innovation.

Reflecting on Trump's past statements, particularly his skepticism towards cryptocurrencies like Bitcoin, Shchukin acknowledged the billionaire's concerns regarding their potential misuse. Despite Trump's critical views, his administration took no decisive actions to regulate or restrict the cryptocurrency sector during his previous tenure.

Shchukin speculated on potential indirect regulatory changes under a Trump presidency, particularly regarding transaction taxation and usage rules. He suggested that while market reactions to Trump's election may cause short-term volatility, the long-term trajectory will be more influenced by global factors and blockchain technology advancements rather than domestic political landscapes.