Ever since I woke up today, I was keeping a close eye on the #bitcoin price chart. The crypto market has been buzzing with anticipation as the US presidential election results. It did not took long to see the #prices surging thick and fast, amid the euphoria of Donald Trump's victory in the US election 2024. All the ripples in the crypto markets were happening with blink of eyes. And in no time, the #bitcoin prices soared about 10 per cent and it scaled the $75,000 mark. It was a welcome as well as wonderful sight for many crypto Investors.
(binance screenshot)
Not just Bitcoin, other popular tokens like #dogecoin, #solana, Shiba Inu and many others have also experienced significant volume spikes. Crypto investors have been eagerly awaiting the #us presidential election for months. Many investors were convinced that a victory for the former President Donald Trump would be good for Bitcoin and other digital assets. And the ripples created at the time of counting proves the excitement and euphoria behind the scene.
It was not only the #bitcoin but even the different stock market indices were reacting the US election result. The Indian stock market too gained. Sensex had surged over 1,000 points in todays trading sessions. S&P BSE Sensex gained 900.50 points to settle at 80,378.13, while the Nifty50 surged 270.75 points to 24,484.05 during the day.
There is going to be many turnaround events all over the world. The effect of US election is not only limited to crypto or stock market. There would be multiple effect over various issues around the world. The Israel-Hamas war, increasing dominance of China exports , the Elon musk space program and more importantly the India growth towards the next big super power in the world stage. The relationship with the US is crucial for many of India's interests, in trade, security, and geopolitics. India prime minister is one of the first to congratulate Trump on the election triumph. China is Elon Musk's biggest EV competator. Knowing thay, we can expect a tougher trade policies against China.
Here’s where India could gain from the Trump 2.0
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Pharma: Indian contract manufacturers can benefit as the US implements the Biosecure Act, reducing reliance on China for drug supplies.
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Auto Components (esp. EV): China dominant EV parts market may shift, giving Indian auto exporters a chance to fill the gap.
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Textiles: US may seek non Chinese suppliers, creating more demand for Indian textile exporters.
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Information Technology: This is one of the spaces which saw correction in today's market session. It going to interesting to witness some new price movement.
It is too early to expect much from the election results. The new government policies will decide the fate of global economy. But the ripples that was created over the stocks and crypto gives us a hope for a brighter days to come.
Peace!!
Namaste @steemflow
Posted Using InLeo Alpha
