Bitcoin Price Surges to $80,000 Amid Trump-Driven Optimism

Key Points:

• Bitcoin surged past $80,000 on President-elect Trump’s pro-crypto stance, sparking investor excitement.
• UBS cuts China’s 2025 GDP growth forecast from 4.5% to 4% after Trump’s win.
• South Korea and Singapore prepare for potential trade friction under new U.S. policies.

Bitcoin price surged to a never-before-seen $80,000, buoyed by optimism about U.S. President-elect Donald Trump’s friendly attitude toward the cryptocurrency and anticipated gains in Congress.

Bitcoin Price Surges Historic $80,000 on Trump’s Support

According to CoinGecko, the Bitcoin price surge reflects growing enthusiasm among investors who foresee a favourable regulatory environment under Trump’s leadership, though the cryptocurrency retreated slightly after its peak.

Trump’s embrace of digital assets has fostered speculation that Congress may turn more crypto-friendly, pulling even more investors into the market. The recent Bitcoin price surge underscores a renewed appetite for alternative assets amid shifting economic winds under the new administration. Investors are standing in line to take advantage of the milieu when digital currencies may gain increased institutional support.

Read more: Bitcoin Reaches New Record High & Litecoin Sees Transaction Boom—Crypto Traders Eye BlockDAG as Presale Surges to $116M

Asia Prepares for Potential U.S. Trade Policy Changes

Given the Trump victory, UBS has downgraded its China 2025 GDP growth forecast to around 4% from 4.5%. The revised outlook indicates slower growth, with analysts pointing out that increased trade barriers and the spill-over impact from Trump’s policies will likely be wider into Asia’s economy.

From investors to governments, strategy recalibration is in full swing across the Asia-Pacific region in anticipation of a shift in trade policy. South Korea, for one, has already made preliminary moves to form a consultative body to prepare for policy changes by the new U.S. administration. Singapore’s Prime Minister Lawrence Wong also expressed concern about the threat to regional economic stability from a potential rise in trade tensions.