Monday’s inauguration of Donald Trump isn’t likely to bring any significant price moves for major cryptocurrencies, according to industry experts who spoke to Decrypt before Friday night’s surprise drop of an official Trump meme coin.
Well-established coins such as Bitcoin, Solana, and XRP ($3.20) have risen considerably since the Republican’s election victory on November 5, leading some experts to suggest that the market has already priced in the inauguration.
“I do not anticipate any significant movements on Monday,” YouHodler’s chief of markets Ruslan Lienkha, told Decrypt.
“The event appears to be already priced in, and the inauguration is mainly ceremonial rather than market-moving,” he added.
Some observers also highlight the possibility of a “sell-the-news” day for major tokens, with Bitcoin having already gained strongly in the runup to Trump’s swearing in.
“With [positive] CPI data already priced in and Trump’s inauguration unlikely to introduce any immediate, game-changing policies for crypto, Monday could see a pullback as short-term traders lock in gains,” suggests Anndy Lian, an intergovernmental blockchain advisor and cryptocurrency author.
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