Analysis: The halving cycle effect combined with Trump's relaxation of regulation may help boost BTC's rise

On November 29, Mark Palmer, a senior analyst at the investment bank The Benchmark Company, pointed out that in the past three halving events, Bitcoin has seen a "significant increase" within the next 14-16 months, proving the impact of supply and demand changes on cryptocurrency prices. The price of Bitcoin may also be supported by a more friendly environment for cryptocurrencies. Investors expect Trump's second term to help boost cryptocurrency prices. Traders are looking forward to this so-called "Cryptocurrency President" relaxing regulations and possibly establishing a Bitcoin strategic reserve, which he proposed in the months leading up to the election. It is reported that Trump has also interviewed candidates for a position at the White House specifically responsible for cryptocurrency policy; whoever is elected might become known as history’s first “Cryptocurrency Czar”. Mark Palmer believes that this role itself is beneficial for Bitcoin. He said: "Just having someone focused on making America a leader in areas such as cryptocurrency and bitcoin mining represents a huge change."