A market study conducted by research and analysis firm Juniper speculates that bitcoin valuation will spike this year, citing the prospect of a Trump presidency in the US. Furthermore, the study finds that bitcoin transactions are speculated to exceed $92 billion in valuations this year, more than tripling the $27 billion value scaled in 2015.
If presumptive Republican presidential nominee Donald Trump wins the U.S. presidential elections, the ensuing turmoil on world markets could lead to bitcoin thriving in such an environment, states a new study by Juniper Research.
“If Donald Trump becomes President of the US, there is the very real prospect of turmoil on world markets – the Economist Intelligence Unit ranks his Presidency within the Top 10 global risks,” wrote research author Dr. Windsor Holden.
Notably, he added:
However, Bitcoin would thrive in such an environment, at least until the impact on major fiat currencies becomes clear.
To draw a parallel, economic and geopolitical uncertainties in Greece last year led to a bitcoin rally at the time. The price of the cryptocurrency took a fall later in the year when a pro-EU party won the majority vote during the country’s elections, influencing bitcoin price yet again.
The Economist published an assessment in March 2016 wherein an analysis of Trump’s policies, or lack thereof in their clarity, was among the top 10 global risks facing the world, beyond the economic landscape.
At the time, The Economist ranked and analyzed the factor with the following indicators:
Moderate probability, High impact; Risk intensity = 12
In its latest revision of the Trump presidency factor on June 15, those indicators had changed:
High probability, High impact; Risk intensity = 16
Some of the global economy-centric takeaways from the Economist’s analysis are:
A press release by Juniper also attributed the rise in bitcoin price to three key factors.
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Last modified: May 21, 2020 10:20 AM UTC