Image Source: Unsplash

US Treasury Secretary Bessent said that The Biden administration put crypto on the path of extinction, but Trump aims to make the US a hub for digital innovation. Some sources say Trump is to launch branded crypto wallet and trading application, encouraging his supporters to purchase his memecoin and other crypto assets.(Source not confirmed. Take with pinch of salt).

(Click on image to enlarge)

TRUMPUSD 4H Chart

If we take a look at Trump's coin, called Official Trump with ticker TRUMPUSD, we can see a nice bullish pattern with a five-wave impulsive recovery, followed by an ABC correction, which can send the price higher by Elliott wave theory. It's finishing now wave C of an ABC correction that can stop at strong 10-9 support zone, so another hype can be coming this year.

Basic Elliott Wave Bullish Pattern

More By This Author:

US Dollar Is Making An Intraday Corrective Pullback Within Downtrend
Crypto Market Is Finishing A Correction Within Uptrend
Litecoin Is Forming A Bullish Pattern