The start of November has been great, and the US election was anticipated to play an important role in the price of Bitcoin. It is all because of Donald Trump's victory in the US election and I believe that it is just the start of fantastic days for the crypto market. I don't know if this can also start the bull run cycle but surely the Bitcoin is going to do well. We have seen a significant price rise in the Bitcoin price on the day of election and the counting is still going on however it is clear that Trump is the winner. Donald Trump has been a crypto pro and he has been talking about it in many events. Now since he is a crypto pro and he is in power also hence I am sure he will be doing something great for the Crypto industry in the US.
He will probably do great work to empower crypto exchanges and miners. He has already told us a few times that the remaining Bitcoin should be mined in us only and if that happens then we can expect some favourable policies for Bitcoin miners in the US. Currently, the price of Bitcoin has gone above 75,000 U.S. dollars which is its all-time high and in March we saw the price of 72,000 us dollars already.
Now it is hard to predict what price we are going to see. Maybe it can move further because the current situation is more of greed in the market. People know that Donald Trump is going to do great for the crypto industry and he also said in one of the media events that he will fire Gary Gensler within 24 hours of getting elected. Now let's see what he is going to do for Gary and if he does what he said then its the start of a great move in the crypto space.
I believe that Crypto will not be the same again because after this victory I hope that Trump will bring a set of guidelines that will empower the Crypto industry and the US as a country will also be taken as an example. This will encourage more countries to follow us and if that happens then surely more adoption will be happening in crypto. You can expect more projects coming up and also the exchanges to offer even better services and expand their operations. It will encourage the institutional investors to come forward and invest in crypto which will increase the demand and with higher demand prices are bound to grow which might take some time but this is what we can expect in the long term horizon.
I am also excited to see how Trump will be doing because somewhere I am hoping that India needs to pay attention to all this. If India changes its instance on Crypto then things will be different and it will also have the Indian Crypto community grow but for that situation should change from the US. It is also prominent that now a country cannot be anti-crypto and they have to clear their stand towards bitcoin cryptocurrency. Let's see what India does in crypto following the US.
Thank you