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November 7, 2024

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In this exclusive StockCharts video, Joe shows a specific trade setup in multiple timeframes that identifies the start of an important trend. He explains the 4 keys to this setup and shows 5 examples of stocks meeting the criteria right now. Joe then covers numerous indices, commodities, 10-year Rates, and Bitcoin, and how they are reacting to the election. Finally, he goes through the symbol requests that came through this week, including AMZN, AAPL, and more.

This video was originally published on November 6, 2024. Click this link to watch on StockCharts TV.

Archived videos from Joe are available at this link. Send symbol requests to stocktalk@stockcharts.com; you can also submit a request in the comments section below the video on YouTube. Symbol Requests can be sent in throughout the week prior to the next show.

Now that election uncertainty is over, the stock market broke out of its sideways trading range and continued higher. Potential policy implementations benefit some asset classes, such as cryptocurrencies, which could operate in a more relaxed regulatory environment.

Coinbase Global Inc. (COIN), a crypto-related stock, made it to the top of the Top Up Large Cap stocks in the StockCharts Technical Rank (SCTR) Reports on Wednesday, the day after the US elections.

FIGURE 1. COINBASE IN TOP POSITION. A 65.7 rise in the SCTR score is an impressive one day jump.Image source: StockCharts.com. For educational purposes.

The weekly chart of Coinbase stock shows a series of lower highs and lower lows from March 2024. COIN has broken above the upper channel line, but it’s just the beginning. More momentum needs to be behind Coinbase’s stock price to see follow-through in this movement.

FIGURE 2. WEEKLY CHART OF COINBASE. Since March 2024, COIN has been consolidating. With Wednesday’s price action, the stock price broke through the upper channel of the consolidation pattern.Chart source: StockCharts.com. For educational purposes.

The daily chart (see below) shows that the uptrend has started. Coinbase’s stock price gapped up and closed near its daily high on strong volume.

FIGURE 3. DAILY CHART OF COINBASE. Wednesday’s gap up in COIN is encouraging. Will there be enough momentum for a follow-through? Chart source: StockCharts.com. For educational purposes.

COIN is trading above its 21-day exponential moving average (EMA), its SCTR score crossed over 76, and its relative strength index (RSI) is getting close to the 70 level.

When To Buy COIN

I would look at the weekly chart to identify the entry point. Since COIN has broken out of its downward channel, an ideal scenario would be if the stock price pulled back a bit and reversed, at which point I would look for an entry point at around $250. The RSI should also be greater than 70. The first resistance level to watch for would be around $265, a previous high. If COIN pushes through that level, the next level would be $280. It could go even higher if the momentum is behind it. COIN’s all-time high is $429.54.

If owning shares of Coinbase is a stretch at current price levels and you have signed up for the OptionsPlay Add-on, consider trading options on the stock. Below the chart, under Tools & Resources, click on Options, then the OptionsPlay button.

FIGURE 4. OPTIONS STRATEGIES TO TRADE COINBASE. You can see up to three optimal options strategies depending on your directional bias and implied volatility.Image source: StockCharts.com. For educational purposes.

By default, three strategies will be displayed for a bullish scenario. In the screenshot above, the Jan 17 250/340 call vertical has a relatively decent reward for a max risk of $2,600. Click the expand icon at the top right to see more details.

The stock trend doesn’t meet this trade’s requirements. You could modify the legs to see if another strike price or expiration will meet the trend requirement. Another option is to close this window and try out a bearish or high implied volatility environment to see if you get a more optimal strategy.

FIGURE 5. CALL VERTICAL DETAILS. You can get more granularity for the call vertical when you click the expand icon. All except stock trend checks off in the strategy checklist.Image source: StockCharts.com. For educational purposes.

Once you’ve found a strategy you’re comfortable trading, click the Trade button and copy the trade to your trading platform if you have an options-enabled trading account.

The Bottom Line

Coinbase stock has the potential to rise higher, but a one-day jump in price shouldn’t be your entry criteria. You must still analyze the chart and decide on an entry and exit point that works for your risk tolerance level. Add COIN to your ChartLists and, if possible, set an alert for an entry point. Once you have a position open, follow smart risk management strategies and be prepared to exit a position once it has crossed your exit threshold. You never lose money when taking profits early.


Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

When major shifts happen in the market, such as the one we’re seeing the morning after the election, how can you analyze investor sentiment shifts and adapt your strategy to align with where money will likely flow in the coming weeks and months?

If you checked the markets on Wednesday morning, post-election, you woke up to several remarkable events:

  • The stock market shot up to a record high, with the Dow jumping 1,300 points and the Russell 2000 soaring as high as 4%.
  • The yield on the US 10-year bond surged 4.48%, indicating expectations of economic growth and wider deficits.
  • The US dollar rose the most since 2020 while foreign currencies sank.
  • Gold prices stabilized, though they were down nearly 2% from the metal’s October high.
  • Silver, attempting to stabilize as well, remains down a whopping 7% from its October high.

The big question: Do these shifts signal a confident pivot to “risk-on,” or is the market’s optimism overextended?

Price action will tell you directly what investors are expecting out of the markets in the near-to-intermediate term, but to get an even clearer picture, it’s best to analyze the undercurrents driving market sentiment. Perhaps there, you’ll see what most investors looking at price action or following the news cannot.

A Look at Safe Havens vs. Equities

Since the focus here is on “risk on vs. risk off” sentiment, let’s compare two safe havens, gold ($GOLD) and silver ($SILVER), to the S&P 500 ($SPX).

FIGURE 1. COMPARATIVE CHARTS OF GOLD, SILVER, AND THE S&P 500. All three declined since October, but the S&P jumped following Tuesday’s election. Chart source: StockChartsACP. For educational purposes.

While gold and silver’s uptrend are still intact, with silver showing more weakness than gold, the S&P 500 shows a positive jolt in money flow compared to the defensive monetary metals. This picture also tells us that market sentiment, at least for the moment, favors economic growth prospects over fears of potential tariff-driven headwinds.

The flow into domestic equities and the outflow from international currencies, likely in anticipation of increased tariff activity, are most evident in the forex market, where the US dollar index (UUP as a proxy) rose higher while the $EURUSD dropped following the election.

FIGURE 2. COMPARATIVE CHART OF THE DOLLAR INDEX VS EURUSD. Money could be flowing from international currencies and into US stocks due to tariff fears.Chart source: StockChartsACP. For educational purposes.

Still, we need to take a closer look at market sentiment from a level deeper than what we can see on the surface. Let’s shift to a daily chart of the S&P 500.

FIGURE 3. CHART OF THE S&P 500. The two sentiment indicators based on surveys of investors and professional money managers show that investors are cautious, whereas the institutions are bullish.Chart source: StockCharts.com. For educational purposes.

Before you look at the price action, note the two sentiment indicators below the chart. Both are weekly surveys.

The first indicator—the American Association of Individual Investors (AAII) index (!AAIIBULL)—is a survey of members who represent the individual or “retail” crowd. The survey simply asks whether they’re bullish, bearish, or neutral. A reading over 50% means that 50% or more members are bullish on the markets.  Right now, 39.50% of the members are bullish, down from 50% in October, while bearish sentiment has risen to 30.90% (from just under 20% last month). If you were to use this indicator as a contrarian, the current signal tells you that investors are, at best, cautiously optimistic leading up to election day. It’ll be interesting to see how this changes in the coming days when the new levels are reported.

The second indicator—National Association of Active Investment Managers (NAAIM) index (!NAAIM)—reflects the average exposure of professional money managers (the institutional ‘smart money’) to U.S. equity markets. Basically, its members report their equity exposure. Like the AAII index, contrarians look for readings near 100 as a sign of possible distribution (and readings close to 10% as a sign of possible accumulation). Currently, with 82% of managers holding equity exposure, it’s a bullish signal, though not too bullish as to indicate euphoria.

The Chaikin Money Flow (CMF), a momentum indicator, has dipped below the zero line, meaning that selling pressure has overtaken buying pressure. This suggests a pullback is likely, though, given the post-election uncertainty, you’d have to watch the markets closely to see what it does.

The market is generally bullish but not by any means euphoric. The breakaway price gap you see on the chart is a very bullish pattern that, historically at least, can continue for days without the gap getting filled. With that said, potential support following a pullback will have to be measured once the pullback finally occurs (which isn’t now). But, if the near-term trend is indeed strong, expect price to remain above the support level at roughly the $5,688 range, which is also a critical swing low and support for the current trend.

In short, market sentiment is leaning toward a cautious risk-on sentiment. And despite money flow hinting at a pullback, based on the indicators, that’s likely an opportunity for accumulation rather than distribution.

At the Close

Post-election, investors appear to be leaning toward the “risk-on” vibe. Big players keep a solid equity exposure, while retail investors are more measured but still bullish. While the market’s upbeat, it’s by no means euphoric—yet. So, closely watch those support levels, sentiment indicators, and price action (namely, any pullback when it occurs) to see if this cautious optimism sticks or fades.


Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

Bitcoin, the most well-known cryptocurrency, paved the way for the cryptocurrency asset class.

Now the cryptocurrency of choice, its meteoric rise was unlike any other commodity, resource or asset. Bitcoin’s price rose more than 1,200 percent from March 2020 to reach US$69,044 on November 10, 2021.

The currency showcased its famous volatility in the following year, falling as low as US$15,787 by November 2022 amid economic uncertainty and a wave of negative media coverage.

The cryptocurrency started 2024 just below US$45,000 and has seen substantial gains in remainder of the year. Following Donald Trump’s victory over Vice President Kamala Harris in the 2024 US Presidential Election, Bitcoin reached its new all-time high price of US$76,243 on November 6, 2024.

So, where did Bitcoin start, and what has spurred Bitcoin’s price movements in recent years? Read on to find out.

In this article

    What is Bitcoin and who invented it?

    Created as a response to the 2008 financial crisis, the concept of Bitcoin was first introduced in a nine-page white paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System” on October 31, 2008, on a platform called Metzdowd.

    The manifesto was penned by a notoriously elusive person (or persons) who used the pseudonym Satoshi Nakamoto. The author(s) laid out a compelling argument and groundwork for a new type of cyber-currency that would revolutionize the monetary system.

    Cryptographically secured, Bitcoin was designed to be transparent and resistant to censorship, using the power of blockchain technology to create an immutable ledger preventing double-spending. The true allure for Bitcoin’s early adopters was in its potential to wrestle power away from banks and financial institutes and give it to the masses.

    This was especially enticing as the fallout from the 2008 financial collapse ricocheted internationally. Described as the worst financial crisis since the Great Depression, US$7.4 billion in value was erased from the US stock market in 11 months, while the global economy shrank by an estimated US$2 trillion.

    On January 3, 2009, the Genesis Block was established, marking the beginning of Bitcoin’s blockchain, onto which all additional blocks have been added. The Genesis Block contained the first 50 Bitcoins ever created and a simple message: “The Times 03/Jan/2009 Chancellor on the brink of second bailout for banks.”

    Many believe the message hints at Bitcoin’s mission, as it references an article in The London Timesthat criticized the British government’s inadequate response to the financial crisis of 2007 to 2008, particularly the government’s inability to provide effective relief and support to the struggling economy.

    What was Bitcoin’s starting price?

    When Bitcoin started trading in 2009, its starting price was a minuscule US$0.0009.

    On January 12, 2009, Nakamoto made the first Bitcoin transaction when they sent 10 Bitcoins to Hal Finney, a computer scientist and early Bitcoin enthusiast, marking a crucial milestone in the cryptocurrency’s development and adoption.

    News of the cryptocurrency continued to spread around the Internet, but its value did not rise above US$0 until October 12, 2009, when a Finnish software developer sent 5,050 Bitcoins to New Liberty Standard for US$5.02 via PayPal, thereby establishing both the value of Bitcoin and New Liberty Standard as a Bitcoin exchange.

    The first time Bitcoin was used to make a purchase was on May 22, 2010, when a programmer in Florida named Laszlo Hanyecz offered anyone who would bring him a pizza 10,000 Bitcoin in exchange. Someone accepted the offer and ordered Hanyecz two Papa John’s pizzas for US$25. The 10,000 Bitcoin pizza order essentially set Bitcoin’s price in 2010 at around US$0.0025.

    Bitcoin’s price finally broke through the US$1 mark in 2011, and moved as high as US$29.60 that year. However, in 2012 Bitcoin pulled back and remained relatively muted.

    Bitcoin’s price saw its first significant growth in earnest in 2013, the year it broke through both US$100 and US$1,000. It climbed all the way to US$1,242 in December 2013.

    From that peak, Bitcoin’s price began to fall, and it spent most of 2015 in the US$200 range, but it turned around in December 2015 and began to climb again, ending the year at around US$430.

    Bitcoin price chart from August 2011 to December 31, 2015.

    Chart courtesy of TradingEconomics.com

    When did the Bitcoin price start to grow?

    January 1, 2016, marked the beginning of Bitcoin’s sustained price rise. It started the year at US$433 and ended it at US$989 — a 128 percent value increase in 12 months.

    That year, several contributing factors led to Bitcoin’s rise in mainstream popularity. The stock market experienced one of its worst first weeks ever in 2016, and investors began turning to Bitcoin as a “safe-haven” stock amidst economic and geopolitical uncertainty.

    2016 also saw the Brexit referendum in the UK in June and the election of Donald Trump to the White House in November, both events that coincided with a bump in Bitcoin’s price.

    Bitcoin continued its ascent, while various industries continued to take an interest in blockchain technology, particularly technology and finance. In February, a group of investors that included IBM (NYSE:IBM) and Goldman Sachs invested US$60 million in a New York firm developing blockchain technology for financial services, Dig Asset Holdings. Bitcoin was trading at US$368.12 on February 2, down a bit from January, but two months later it was US$418.

    In May the price of Bitcoin experienced a significant price increase, rising by 21 percent to US$539 at the end of the month. Its price went higher into June, peaking at US$764 on June 18. After that, it fell sharply and spent the summer in the high US$600 range. It dropped to US$517 on August 1 and started its climb all over again.

    Microsoft (NASDAQ:MSFT) and Bank of America Merrill Lynch partnered for a finance transacting endeavor in September. Not much price movement was observed, but Bitcoin remained on a steady upward trajectory after that. In October, Ripple partnered with 12 banks in a trial that used its native digital currency token XRP to facilitate cross-border payments. Institutional investment bolstered investor confidence, and Bitcoin went from US$629 to US$736 between October 20 and November 20.

    Bitcoin’s popularity continued into 2017, and it rose from US$1,035.24 in January to US$18,940.57 in December. Futures contracts began trading on the Chicago Mercantile Exchange in December 2017, and Bitcoin began to be more widely perceived as a legitimate investment rather than a passing fad. FOMO flooded the market. What ensued was a frenzy of media coverage featuring celebrity endorsements and initial coin offerings (ICOs) that spilled into 2018.

    Regulators began to take notice and issued warnings and guidelines meant to protect investors and mitigate risks associated with digital assets, which only seemed to make people want them more.

    Through it all, Bitcoin remained the “gold standard” of cryptocurrencies, yet its price was subject to extreme volatility. At the beginning of 2019, it was around US$3,800, it reached nearly US$13,000 in June, but by December 2019 Bitcoin was trading at around US$7,2000.

    Bitcoin price chart from January 1, 2016, to December 31, 2019.

    Chart courtesy of TradingEconomics.com

    What factors led to Bitcoin’s rise in the early 2020s?

    2020 proved a testing ground for the digital coin’s ability to weather financial upheaval. Starting the year at US$6,950.56, a widespread selloff in March triggered by the pandemic brought its value to US$4,841.67 — a 30 percent decline.

    The low created a buying opportunity that helped Bitcoin regain its losses by May. The rally continued throughout 2020, and the digital asset ended the year at US$29,402.64, a 323 percent year-over-year increase and a 507 percent rise from its March drop.

    By comparison, gold, one of the best-performing commodities of 2020, added 38 percent to its value from the low in March through December, setting what was then an all-time high of US$2,060 per ounce in August.

    Bitcoin’s ascent continued in 2021, rallying to an all-time high of US$68,649.05 in November, a 98.82 percent increase from January. Much of the growth in 2021 was attributed to risk-on investor appetite.

    Increased money printing in response to the pandemic also benefited Bitcoin, as investors with more capital looked to diversify their portfolios. The success of the world’s first cryptocurrency amid the market ups and downs of 2020 and 2021 led to more interest and investment in other coins and digital assets as well. For example, 2021 saw the rise of non-fungible tokens (NFTs), unique crypto assets that are stored, sold and traded digitally using blockchain technology.

    Almost immediately following its record close above US$69,000 in November 2021, Bitcoin’s value began to fall once again. Market uncertainty weighed especially heavily on Bitcoin in 2022. During the second quarter of that year, values dived below US$20,000 for the first time since December 2020.

    On May 7, 2022, Curve Whale Watching posted the first sign that confidence in Terra Luna, a cryptocurrency pegged to the US dollar, was waning after 85 million of its stablecoin UST exchanged for less than the 1:1 ratio it was supposed to maintain. This triggered a massive sell-off that brought Luna’s value down 99.7 percent and eventually resulted in the Terra tokens ceasing to be traded on major crypto exchanges.

    Terra’s collapse had a domino effect on the industry as investors’ faith in crypto crumbled. In July, the Celsius network, a platform where users could deposit crypto into digital wallets to accrue interest, halted all transfers due to “extreme market conditions”, driving down the price of Bitcoin even further to US$19,047, a 60 percent decline from January 2022. In July, Celsius filed for Chapter 11 bankruptcy.

    However, the biggest shake-up to the industry came in November when CoinDesk published findings that cryptocurrency trading firm Alameda Research led by Sam Bankman-Fried had borrowed billions of dollars of customer funds from crypto exchange and sister company FTX. Over a third of Alameda’s assets were tied up in FTT, the native cryptocurrency of FTX.

    Once this news broke, investors withdrew their funds en masse, causing a liquidity crunch that collapsed FTX. Bankman-Fried was later arrested and sentenced to 25 years in federal prison on counts of money laundering, wire fraud and securities fraud.

    Although Bitcoin was never implicated, the fallout of the FTX scandal led to a crisis of confidence across the sector and increased scrutiny from regulators and law enforcement. By the end of 2022, prices for Bitcoin had moved even lower to settle below US$17,000.

    Bitcoin price chart from January 1, 2020, to December 31, 2022.

    Chart courtesy of TradingEconomics.com

    Bitcoin’s powerful performance cannot be understated as evidenced by its price performance in the later half of 2023 and so far in 2024.

    Concerns with the banking system led the price of Bitcoin to rally in March 2023 to US$28,211 by March 21 after the failure of multiple US banks alarmed investors.

    In Q2 2023, Bitcoin continued its ascent, stabilizing above US$25,000 even as the US Securities Exchange Commission (SEC) filed lawsuits against Coinbase Global (NASDAQ:COIN), along with Binance and its founder Changpeng Zhao.

    Although it looked like bad news for the sector, Bitcoin stayed steady, holding above US$25,000. This was supported by BlackRock (NYSE:BLK), the world’s largest asset manager, filing for a Bitcoin exchange-traded fund with the SEC on June 15.

    Bitcoin’s price jumped above US$30,000 on June 21, 2023, and on July 3, 2023, the crypto hit its highest price since May 2022 at US$31,500. It held above US$30,000 for nearly a month before dropping just below on July 16, 2023. By September 11, 2023, prices had slid further to US$25,150.

    Heading into the final months of the year, the Bitcoin price benefited from increased institutional investment on the prospect of the SEC approving a bevy of spot Bitcoin exchange-traded funds by early 2024. In mid-November the price for the popular cryptocurrency was trading up at US$37,885, and by the end of the year that figure had risen further to US$42,228 per BTC.

    What was the highest price for Bitcoin?

    Bitcoin set a new all-time high price on November 6, 2024, when it reached US$76,243 per BTC at 4:00 p.m. EST. This new highest price came after the 45th US President Donald Trump made a stunning political comeback to become the 47th US President. His retaking of the presidency is being heralded as hugely positive for the cryptocurrency market.

    “We have a #Bitcoin President,” Michael Saylor, founder of Bitcoin development company MicroStrategy (NASDAQ:MSTR), posted on X.

    2024 Bitcoin price performance

    Bitcoin price chart for January 1, 2024, to November 6, 2024.

    Chart courtesy of TradingEconomics.com

    Once the SEC’s approval of 11 spot Bitcoin ETFs hit the wires, the price per coin jumped again to US$46,620 on January 10, 2024. These investment vehicles were a major driving force behind the more than 42 percent rise in value for Bitcoin in February; it reached US$61,113 on the last day of the month.

    On March 4, Bitcoin surged almost 8 percent in 24 hours to trade at US$67,758, less than 2 percent away from its previous record, and on March 11 it hit a new milestone, surpassing the US$72,000 mark. Three days later, on March 14, Bitcoin reached its highest-ever recorded price of US$73,737.94, surpassing the market cap of silver.

    Bitcoin often surges leading up to the halving events, which is when Bitcoin rewards are halved for miners. The most recent came in April when the reward for completing a block was cut from 6.25 to 3.125 Bitcoin.

    Several sources cited the 2024 halving as one of the forces that drove the price of Bitcoin to its newest high.

    The halving occurred at around 8:10 p.m. EDT on a Friday, and Bitcoin’s price remained stable within the US$63,000 to US$65,000 range over the ensuing weekend. On April 22, the Monday following the halving, it was slightly above US$66,000.

    While Bitcoin’s price stayed relatively stable, the cryptocurrency’s trading volume experienced significant fluctuations through that weekend, with a 45 percent increase from April 19 to April 20 followed by a 68 percent decline on April 21. Between April 30 and May 3, it fell as low as US$56,903 following the Federal Reserve’s April policy meeting, which did not produce a rate cut.

    Reports that the SEC was moving to approve spot Ether ETFs in May sent the price of Bitcoin climbing again alongside that of Ether, the native token of the Ethereum blockchain, which serves as the foundation for these ETFs. Bitcoin passed US$71,000 for the second time ever at 8:00 p.m. EDT on May 20, days before the SEC approved spot Ether ETFs on May 23.

    Bitcoin hovered between US$67,000 and US$69,000 for the remainder of the month and into the middle of June. It fell back below US$67,000 on June 13 and moved lower the next day when the Federal Reserve opted to delay lowering interest rates once again.

    Losses picked up speed through late June and continued in July, with analysts pointing to uncertainty over post-election regulations, Germany’s sell-off of seized Bitcoin assets and concerns about the impact of the defunct trading platform Mt. Gox on the token market. Bitcoin dropped to a two-month low of US$55,880 on July 8, but quickly recovered most of its losses after Federal Reserve Chairman Jerome Powell’s congressional testimony on July 9 that signaled rate cuts may not be far off.

    As crypto gains wider acceptance and accessibility, with more traditional financial institutions and products incorporating digital assets, the type of risk that Bitcoin represents has evolved. Bitcoin was primarily seen as a highly speculative alternative investment. Now, with expanding institutional interest, it is increasingly seen as a ”risk-on” asset – meaning its price movements are influenced by market sentiment, investor confidence and broader economic conditions.

    A rise in Bitcoin’s price ensued after the July 13 assassination attempt of US presidential candidate Donald Trump, who has been actively endorsing the crypto industry for support. Bitcoin rose from US$57,899 to US$66,690 in the week following the incident as the odds of a Trump victory were seen to improve, highlighting the impact of regulatory uncertainty on the market. However, Bitcoin’s price didn’t experience any significant pullbacks in the week after current US President Joe Biden dropped out of the race on July 21 and current Vice President Kamala Harris took over as the new nominee.

    Other significant developments affecting Bitcoin during the summer included the underwhelming performance of spot Ether ETFs, fears of a US government Bitcoin sell-off, Trump’s proposed national Bitcoin stockpile and Trump’s declining chances of winning the election as support for Harris snowballs.

    Bitcoin experienced a tumultuous August, with its price plummeting alongside other digital assets and the stock market on August 5th. Several factors triggered this sell-off, including weaker-than-expected economic data on August 2 and an unexpected interest rate hike in Japan. These events sparked panic in Asian markets, leading investors to liquidate high-risk assets like Bitcoin.

    Despite a brief recovery, Bitcoin continued to fluctuate throughout August, dropping to US$58,430 on the weekend of August 10 and 11, and experiencing further price swings between US$60,700 and US$56,700. While positive inflation data boosted the stock market, Bitcoin struggled to break past a US$60,000 ceiling.

    A brief rally on August 23rd, prompted by the Federal Reserve’s signal to begin lowering interest rates, was quickly followed by another price drop. This pattern of rallies and subsequent declines persisted for the remainder of August and most of September. Bitcoin ended the month at just above US$64,540.

    During the lead up to the 2024 US presidential election had a notable affect on Bitcoin’s price movements, with the Republican party generally seen as more ‘crypto-friendly’ than the Democrats. On October 28, PolyMarket, bettors favored Trump with a 66.1 percent probability of winning compared to Harris’ 33.8 percent. This translated into a 7 percent gain in a little over 24 hours on October 29 to flirt with the previous all-time high, coming in at US$73,295.

    A few days later on November 3, Trump’s lead would seemingly narrow with the gap closing to 55 percent for Trump and 44.3 percent for Harris. The Bitcoin price responded by dropping to US$67,874 on November 4.

    What is Bitcoin at today?

    As of 7:20 p.m. EST on November 6, Bitcoin is valued at US$75,431.

    October, historically a bullish month for Bitcoin, started with the cryptocurrency’s price tumbling from US$64,000 to US$60,770 on the very first day. For the next few weeks, Bitcoin seemed to be stuck in a holding pattern, fluctuating within a narrow band. On October 13, positive inflation data boosted the market, pushing Bitcoin above the US$63,000 mark.

    On October 28, as trading began in Asia, a surge of activity propelled Bitcoin past the US$70,000 milestone. The excitement continued to build with the European markets, where another wave of buying pushed the price even higher to US$71,200. Anticipation mounted as North American traders joined the fray, pushing the price just short of US$72,000, and it continued upwards to just under US$73,000 at 1:30 p.m. PDT October 29.

    Trump’s election win on November 5 caused the Bitcoin price to rocket upwards, and it surpassed its previous high.

    FAQs for investing in Bitcoin

    What is a blockchain?

    A blockchain is a digitized and decentralized public ledger of all cryptocurrency transactions.

    Blockchains are constantly growing as completed blocks are recorded and added in chronological order. The mechanism by which digital currencies are mined, blockchain has become a popular investment space as the technology is increasingly being implemented in business processes across a variety of industries. These include banking, cybersecurity, networking, supply chain management, the Internet of Things, online music, healthcare and insurance.

    Is Peter Todd Satoshi Nakamoto?

    Canadian software developer Peter Todd has denied he is Satoshi Nakamoto, a claim made by the documentary ‘Money Electric: The Bitcoin Mystery,’ which aired on October 8, based on circumstantial evidence such as posts on an early Bitcoin forum and correspondence between Todd and Hal Finney, who received the first Bitcoin from Satoshi.

    Aired on HBO, the film by Cullen Hoback features interviews with people involved in Bitcoin’s creation and suggests that Todd could be the elusive Satoshi Nakamoto who wrote the 2008 white paper that led to Bitcoin’s launch. Reddit posts dating back to 2015 have also suggested that Todd could be Satoshi.

    Todd has continuously denied the claim, most recently to multiple media outlets, including CoinDesk and Bloomberg.

    How to buy Bitcoin?

    Bitcoin can be purchased through a variety of crypto exchange platforms and peer-to-peer crypto trading apps, and then held in a digital wallet. These include Coinbase Global, CoinSmart Financial (OTC Pink:CONMF,NEO:SMRT), BlockFi, Binance and Gemini.

    What is the Bitcoin halving?

    Unlike traditional currencies that can increase circulation through printing, the number of Bitcoins is finite. This limit is a core function of Bitcoin’s algorithm and was designed to offset inflation by maintaining scarcity. There are 21 million in existence, of which 19,787,175 are in circulation as of August 8. This means there are 1,212,825 still unmined.

    A new Bitcoin is created when a Bitcoin miner uses highly specialized software to complete a block of transaction verifications on the Bitcoin blockchain. Roughly 900 Bitcoins are currently mined per day; however, after 210,000 blocks are completed, a Bitcoin protocol called a halving automatically reduces the number of new coins issued by half. Halving not only counteracts inflation but also supports the cryptocurrency’s value by ensuring that its price will increase if demand remains the same.

    Halvings have occurred every four years since 2012, with the most recent happening on April 19, 2024. The next halving is expected to occur in 2028.

    Bitcoin’s halving has significant implications for the cryptocurrency’s mining activity and supply because of how Bitcoin mining works. Currently, miners are paid 3.125 Bitcoin for every block they complete. After the next halving, the pay rate will lower to 1.5625 Bitcoin for every completed block for the next four years.

    What is Coinbase?

    Coinbase Global is a secure online cryptocurrency exchange that makes it easy for investors to buy, sell, transfer and store cryptocurrencies such as Bitcoin.

    How does crypto affect the banking industry?

    Cryptocurrencies are an alternative to traditional banking, and tend to attract people interested in assets that are outside mainstream systems. According to data from Statista, 53 percent of crypto owners are between the ages of 18 and 34, showing that the industry is drawing younger generations who may be interested in decentralized digital options.

    Privacy is a key draw for cryptocurrency owners, as is the fact that they are separated from third parties such as central banks. Additionally, crypto transactions, including purchases, sales and transfers, are often quick and have fewer associated fees than transactions going through the banking system in the typical manner.

    That said, banks are starting to notice how popular cryptocurrencies are. As Bitcoin and its compatriots become increasingly mainstream, many banks have begun to invest in cryptocurrencies and blockchain companies themselves.

    Is Bitcoin a good investment anymore?

    While Bitcoin has reached new heights in 2024, one of its well-known features is its volatility. Investors who are more accepting of risk could look to the cryptocurrency space as there historically has been money to be made, and Bitcoin is regaining value after plummeting in 2022. However, there is also historically money to be lost, and investors who prefer to take smaller risks should look towards other avenues.

    For more information on investing in Bitcoin right now, check out our article Is Now a Good Time to Buy Bitcoin?

    Who has the most invested in Bitcoin?

    Satoshi Nakomoto, the mysterious founder of Bitcoin, is believed to also be the biggest holder of the coin. Analysis into early Bitcoin wallets has revealed that Nakamoto likely owns over 1 million of the nearly 19.5 million Bitcoins in existence.

    Does Elon Musk own Bitcoin?

    Tesla and Twitter CEO Elon Musk’s association with both Bitcoin and the meme coin Dogecoin is well known, and both his tweets and Tesla’s actions have influenced the cryptocurrencies’ trajectories over the years.

    While it is unknown just how much he owns, Musk has disclosed that he personally has holdings of Bitcoin and Dogecoin, as well as Ether. It was revealed in September 2023 that Musk may be funding Dogecoin on the quiet, according to Forbes.

    As for Tesla, the company purchased US$1.5 billion of Bitcoin in 2021, but sold 75 percent of that the next year. As of February 2024, the EV maker’s Bitcoin holdings were estimated at 9,720 Bitcoin, the third-largest bitcoin holdings for a publicly traded company. In a January 2024 post on his social media platform X, Musk said “I still own a bunch of Dogecoin, and SpaceX owns a bunch of Bitcoin.’

    Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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    Popular cryptocurrency Bitcoin surged to a new record of more than US$75,000 as the US election played out.

    Outcomes in Pennsylvania and Wisconsin, two of seven key battleground states, had a key role in securing Republican nominee Donald Trump’s victory, which was announced at around 5:30 a.m. EST on Wednesday (November 6).

    Bitcoin was valued at US$73,806 when the news hit, reflecting a nearly 7 percent increase in a 24 hour period.

    The Republican Party’s success ultimately extended to all seven swing states. Moreover, the party took control of the Senate by flipping seats in Ohio, West Virginia and Montana. Control of the House has yet to be determined.

    Throughout the election process, Bitcoin’s price movements appeared to increasingly be influenced by the presidential race, making this event an intriguing case study of the links between cryptocurrencies and politics.

    Trump’s crypto push vs. Harris’ regulatory plans

    The price of Bitcoin experienced significant volatility leading up to the election.

    Over the course of his campaign, Trump actively courted the crypto community, securing endorsements from crypto super PACs and garnering support from voters invested in the industry’s future.

    Trump spoke at the Bitcoin conference in Nashville, Tennessee, in July, promising to establish a Bitcoin reserve and make the US the “crypto capital” of the world if he was elected. He has also been a vocal critic of US Securities and Exchange Commission Chair Gary Gensler, whose tenure has been marked by a contentious relationship with the crypto industry and multiple legal battles against major players like Kraken, Ripple and Tether.

    At the Nashville event, Trump pledged to replace Gensler with a new chairman if he won the presidency.

    In mid-September, Trump launched a family crypto venture called World Liberty Financial along with a native token, announcing an initial fundraising goal of US$300 million. However, due to slower-than-expected adoption, the organization reduced that target to US$30 million just five days before the election.

    Meanwhile, Democratic nominee and current Vice President Kamala Harris promised to support the crypto industry, vowing to oversee the development of a complete regulatory framework just weeks before the election.

    The initiative was part of her Opportunity Agenda, which sought to establish tools and resources for economic advancement within Black male communities; however, her campaign’s messaging on these policies lacked clarity, and the Democratic Party’s overall stance has been perceived by some as hindering innovation in the crypto space.

    As the political landscape evolves and the new administration takes shape, it is crucial to consider how Trump’sstances and potential policies may influence the future of the cryptocurrency industry.

    Matt Hougan, CEO of Bitwise Asset Management, a crypto index fund manager, thinks cryptocurrency prices will continue to trend upward in the long term regardless of the outcome of the election.

    “What happens in Tuesday’s election matters, particularly in the short term. But as I see it, over the long term Tuesday will prove to be something between a speed bump and a wind gust. Neither is going to stop this train,’ he said.

    Antonio Di Giacomo, senior market analyst at global multi-asset broker XS.com, said ahead of the vote that US elections have historically coincided with a significant growth pattern for the Bitcoin price.

    “While the cryptocurrency has historically been volatile, the post-election surges in 2016, 2020 and more recently in 2024 reflect an upward trend that has attracted investors worldwide,” he said via email.

    “However, while Bitcoin has historically seen significant price appreciation following elections, the exact cause of this relationship is unclear; it is likely due to a combination of economic, political and technological factors.”

    Bitcoin surges to new high in election-fueled rally

    Bitcoin fluctuated in value leading up to the election. After weeks of stagnancy, Trump’s perceived chances of winning increased, helping Bitcoin break above US$70,000 on October 28 for the first time since June.

    However, it pulled back shortly after due to profit taking as well as a dismal US jobs report on November 1.

    On November 2, a Des Moines Register/Mediacom survey of 808 Iowa voters showed Harris leading Trump 47 percent to 44 percent among independent likely voters, a demographic that had supported Trump in his last two races.

    As the perceived odds of Harris winning increased, so-called “Trump trades,” including Bitcoin, experienced declines. On November 4, Bitcoin fell to US$67,393, marking its sixth consecutive day of losses.

    Ahead of election day, Polymarket bets heavily favored Trump, although reports suggested that these figures might not accurately reflect voter sentiment. Data from other sources, including FiveThirtyEight, indicated a much tighter race, with Harris holding a slight lead throughout October. Similarly, the Silver Bulletin’s 80,000 election simulations predicted a near tie, with Harris winning in 50.015 percent of the scenarios and Trump winning in 49.985 percent.

    The tiny town of Dixville Notch in New Hampshire upheld its traditional role in kicking off voting day with a remarkable result: Trump and Harris received an equal number of votes, with each candidate securing three votes apiece.

    As voting continued around the country, the Bitcoin price gained roughly 2.3 percent in 24 hours, breaking US$70,000 at around 12:00 p.m. EST on November 5. Its volatility was on full display throughout the afternoon and into the night as results trickled in, largely in Trump’s favor. As Trump took an early lead, Bitcoin continued to climb, rallying over 6 percent between 7:00 p.m. and 10:20 p.m. EST to reach US$73,936, breaking its March high of US$73,000.

    In a historic moment, Bitcoin soared to an all-time high of US$75,258 at 1:25 a.m. EST on November 6 as votes were tallied in Nevada. Trump was declared the winner at around 5:36 a.m. EST after securing 10 electoral college votes in Wisconsin. Bitcoin was valued at US$73,806, an increase of nearly 7.5 percent over 24 hours.

    Comparing the cryptocurrency’s performance during the 2016 and 2020 US elections to its recent behavior reveals a stark contrast. In 2016, Bitcoin experienced a relatively modest 1.13 percent change around the election period. Conversely, in 2020, despite a relatively flat year, Bitcoin saw a difference of 10.29 percent as the votes were tallied.

    While both the 2016 and 2020 elections showcased Bitcoin’s potential for growth, the recent election cycle has emphasized its growing influence and its susceptibility to the shifting political winds.

    Investor takeaway

    The relationship between Bitcoin and the US election has been complex and multifaceted.

    The market’s response to the election outcome may be emotionally driven in the short term, but the long-term prospects for cryptocurrencies hinge on the regulatory environment fostered by the new administration.

    Neil Bergquist, CEO and co-founder of Coinme, echoed this sentiment, emphasizing that regulatory clarity and support from the incoming administration will not only boost the industry, but also attract new participants.

    ‘This would drive trading volumes and the value of crypto upward, following increased market participation. It would also attract more institutional investors to the market, which historically drives up volumes and values of crypto.’

    Ultimately, the crypto industry and retail investors alike are looking to the new president for a more embracing approach to digital assets, and also for much-needed regulatory clarity.

    Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

    This post appeared first on investingnews.com

    Key US indexes hit new records following Donald Trump’s victory in the presidential election.

    Trump’s campaign, which focused on reviving traditional industries and reinforcing tariffs, suggests a shift in economic priorities that investors in the US and elsewhere are now trying to assess.

    Immediate reactions were seen across various asset classes on Wednesday (November 6), including American indexes and equities, the US dollar, cryptocurrencies and commodities.

    Key US indexes reach new all-time highs

    The S&P 500 (INDEXSP:.INX), Dow Jones Industrial Average (INDEXDJX:.DJI) and Nasdaq Composite (INDEXNASDAQ:.IXIC) all reached new record levels as Trump’s victory hit markets. The S&P traded as high as 5,922.53 on Wednesday, while the Dow rose to 43,707.92. For its part, the Nasdaq reached 18,962.46.

    ‘The market is definitely moving in line with the Trump playbook; stocks and small caps, in particular, are higher on the idea that Trump will be good for U.S. companies,’ Seema Shah, chief global strategist for Principal Asset Management, explained to Reuters. She added that markets outside the US are reacting as well.

    ‘Across emerging markets, you can see China and Europe are struggling with the idea that they could face higher tariffs, and U.S. bond yields higher with expectations for a higher fiscal deficit and inflation.’

    US dollar rallies, Bitcoin hits new all-time high

    On the US dollar front, Trump’s win put the greenback on track for its strongest daily gain in four years.

    Investors anticipate that a renewed focus on tariffs could increase inflation, potentially prompting the US Federal Reserve to cut interest rates by less than previously expected. The Fed’s next meeting is currently in progress, with many market watchers anticipating a 25 basis point reduction after September’s 50 basis point drop.

    Bitcoin, which some see as a hedge against traditional financial instability, hit a new all-time high, reaching US$75,397 shortly after Trump’s victory. The cryptocurrency’s surge reflects investor sentiment that a Trump administration will be more favorable to digital assets than a Kamala Harris-led country might have been.

    The boost continues the trend of cryptocurrencies being perceived as alternative assets in times of uncertainty.

    Gold, also typically seen as a safe-haven asset, experienced a decline. The yellow metal sank as low as US$2,660.84 per ounce on Wednesday after spending the better part of the last three weeks above US$2,700.

    Experts see the yellow metal facing opposing pressures: inflation risks from tariffs could increase demand for safe-haven assets like gold, while the strong dollar and stabilized economic growth might dampen that demand.

    Silver also fell on Wednesday, dropping to US$30.99 per ounce at its lowest point.

    Oil, copper and agricultural commodities react

    Other commodities saw contrasting responses to Trump’s victory at the polls.

    Both Brent and West Texas Intermediate crude futures saw small declines on Wednesday. Looking longer term, some analysts believe a Trump presidency could be positive for oil — if he renews sanctions on countries like Iran and Venezuela, these nations’ oil exports could be reduced, creating a tighter supply situation.

    Copper saw a more significant decline, with Reuters reporting that it is set to record its biggest intraday loss in five months. Market participants appear to be pricing in the possibility of reduced US support for electrification projects, which could lower demand for copper, along with other industrial metals.

    “We are seeing industrial metals taking the biggest hit, led by copper and iron ore, while grains trade lower, led by soybeans on fears that China’s countermeasures may hurt US exports of soybeans and corn,’ Ole S. Hansen, head of commodity strategy at Saxo, said in an emailed note.

    China is a leading importer of soybeans from the US, making the market heavily dependent on the Asian nation.

    Trump’s election has raised concerns that new tariffs could disrupt the US-China agricultural trade relationship, potentially prompting China to impose retaliatory tariffs on American crops.

    Wheat and corn, while less reliant on Chinese markets, also trended downward before recovering.

    Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

    This post appeared first on investingnews.com

    With the 2024 US Presidential election in the rear view and Donald Trump emerging the victor, news of his upcoming presidency is already influencing global markets.

    In 2020, Biden and Harris presented themselves as a team that would bring Republicans and Democrats together, challenging Trump’s divisive and populist rhetoric of making America great again. Although Trump lost that election, his popularity remained steadfast among his base, contributing to his success on November 5.

    In the resource sector, investors are wondering how a Trump presidency may affect the gold price. While diverse factors drive the gold market, the US — and by extension its leader — impacts many of them, including the global geopolitical environment, interest rates and the performance of the US dollar.

    During his last term in office, Donald Trump increased domestic oil production and tariffs on goods from overseas. Further increases to these have been central to his campaign this time around as well — he has promised to cut energy prices in half and increase tariffs to narrow trade deficits.

    His policy has largely been focused on appeasing his base, promising sweeping immigration reform with a promise to deport 20 million people living in the US illegally. However, some suggest the plan would be wrought with logistical challenges and wreak havoc on the economy. He has also promised to take a tough-on-crime stance as president and push for expansion of the death penalty and provide the military with powers to police within US borders.

    On foreign policy, Trump said he was also committed to ending the war and planned to push Ukrainian funding to European partners while attempting to bring Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskyy to the negotiating table. When it comes to the conflict in the Middle East, President-elect Trump has promised to back Israel but suggested he’d want the conflict wrapped up by the time he takes the oath of office.

    With the presidency soon to be in Trump’s hands, how he navigates all of these challenges will contribute to a broad geopolitical narrative that will touch many sectors of the global economy, including the price of gold. Looking back, we can see how past policy decisions have impacted gold and what could happen once Trump returns to the Oval Office.

    The gold price has climbed significantly under both administrations. It’s been holding at historic levels above the US$2,700 mark since the middle of October, reaching an all-time high of US$2,786 on October 30, more than double its price when Trump took office in 2017.

    Some of the rise in gold prices is attributed to a 50-point cut to interest rates following the Federal Open Markets Committee meeting on September 17 and 18. The next FOMC meeting is scheduled for November 6 and 7.

    How does gold typically perform post-election, and how has it moved during Trump and Biden’s presidencies? While the past doesn’t necessarily dictate the future, reviewing gold price trends can help investors plan their election strategy.

    In this article

      What happened to the gold price after Trump’s election win?

      In the aftermath of Trump being re-elected, gold fell from all-time highs above US$2,700 losing 3 percent on November 6 to trade in the US$2,660 range. The decline is a headline for the resource sector, which also saw broad declines across both precious and base metals.

      Commodities have largely been influenced by the effect the Trump win is having on bonds and the dollar as market watchers prepare for policies that are expected to require increasing deficits and fuel a run in inflation.

      How these financial markets move will have a strong influence on investor sentiment and, by extension, the price of gold as they look for a hedge to swings in market volatility that come with a shift in leadership in the world’s largest economy.

      With the election still fresh, what can be learned from past elections, and how might the price of gold move in the days, weeks and months ahead? Moreover, how can past policies set by presidents have an even deeper influence on the safe-haven metal than just the election cycle?

      How do US elections affect the gold price?

      Looking at past US elections can provide insight on how the gold price may move in the days and weeks following November 5. However, on a broad scale, changes post-election tend to normalize fairly quickly.

      In 2016, when Trump ran against Hillary Clinton, the gold price climbed by about US$50 in the weeks leading up to the November 8 election, peaking at just above US$1,300 per ounce on November 4. Following Trump’s win gold fell substantially, moving as low as US$1,128 in mid-December. Following that low point, the gold price began to rebound, and by the middle of January 2017 was once again above the US$1,200 level.

      Gold price, November 1, 2016, to January 30, 2017.

      Chart via Trading Economics.

      The 2020 election was on November 3, and in the week leading up to the vote gold was trading at around US$1,900, although it fell as low as US$1,867 on October 30. After the election, the gold price performed positively, spiking from US$1,908 on the day of the vote to US$1,951 on November 6.

      However, gold fell back down over the following weeks, and dipped briefly below US$1,800 as vote recounts in Georgia and several districts and legal challenges by Trump’s team dragged on.

      Gold price, November 1, 2020, to January 30, 2021.

      Chart via Trading Economics.

      Gold began to climb again in December ahead of January 6, 2021, when the electoral college met to formalize Biden’s victory. That day, the attack on the US Capitol building, which aimed to stop this process, caused the gold price to plunge from US$1,949 on January 5 to US$1,848 by January 8. The events of January 6 were the start of a decline in the gold price that continued until March 8, when gold bottomed out at US$1,674.80.

      Gold’s behavior at this time went against the usual trend whereby it performs well amid crisis and turmoil; the decline may been a reaction to the successful affirmation of Biden. Stock markets also reacted opposite to expectations, seeing strong gains on January 6 and 7 as investors and Wall Street believed an economic recovery was in sight.

      How did the gold price perform when Trump was president?

      The gold price rose substantially during Trump’s presidency, increasing from US$1,209 when he assumed office on January 20, 2017, to US$1,839 on his final day, which was January 19, 2021.

      While these gains can’t be directly attributed to Trump, his actions helped shape the geopolitical landscape both in the US and abroad. During his tenure, trade wars with both allies and competitors were in focus.

      China was a key target for Trump. While tariffs on Chinese goods were already in place, his administration applied new restrictions to more items, including steel, electric vehicle batteries and consumer goods. Also under Trump’s watch, relations with India fractured and the country lost its preferential trade status with the US. He also withdrew from the Iran nuclear treaty and imposed punishments on anyone who traded with Iran.

      These and other “America First” protectionist policies and sanctions implemented by the Trump administration tarnished the image of the US as a reliable trade partner, helping to push the BRICS nations — Brazil, Russia, India, China and South Africa — away from the US dollar as a global reserve currency.

      The BRICS have since expanded to include Iran, Egypt, Ethiopia and other emerging nations, and have increasingly turned toward gold. China and India in particular have increased purchases of gold through their central banks, leading some to speculate that they are attempting to create a new currency that is at least partially backed by gold.

      One other factor that drove the gold price during Trump’s term was the outbreak of the COVID-19 pandemic and government policies put in place to support citizens and the economy. For example, the former president oversaw multiple stimulus efforts, including packages announced in March 2020 and December 2020. These actions led many to turn to gold as a safe haven out of concern for a weakening US dollar.

      A second Trump term would likely bring more of the same protectionist policies. Indeed, his 2024 campaign has similarities to his 2016 and 2020 campaigns. He has reused his “America First” rhetoric and promised a fresh round of tariffs if elected. Singling out China, Trump has said he would look to implement a 60 percent tariff on all goods imported into the US, a move that would likely increase tensions and the likelihood of a widening division between the countries.

      How has the gold price performed with Biden and Harris in office?

      Gold has also seen sizable gains during Biden’s presidency. The price of gold was US$1,871 when he took over from Trump on January 20, 2021. And while Biden’s term as president is not over until January 2025, as of October 15, the gold price was trading at about US$2,665. It reached a new record on October 30 above US$2,770.

      Again, it’s hard to say how many of the Biden administration’s policies directly influenced these gains. Geopolitical conflict and black swan events outside of his control all affected the gold market during this time.

      For example, Biden and Harris entered office one year after the start of the COVID-19 pandemic. Inflation was ballooning, which typically leads to higher gold prices. The US Federal Reserve has worked to counteract inflation and strengthen the US dollar by raising interest rates beginning in 2022, a move that tempered the gold price for a time. The anticipation of rate cuts and the 50 point cut that came in September were factors in driving gold to its record highs in recent months.

      Biden came into office on a promise of restoring the US’ place in the global community, and while his administration did close rifts among important trading partners like Canada and the EU, tensions with China remain. This rift is a holdover from the Trump administration’s more isolationist policies, but has also been representative of a more competitive global trade landscape as the BRICS nations seek to move away from the US dollar and America’s influence on world economics.

      Biden has attempted to at least partially mend the US’ relationship with China, including by meeting with President Xi Jinping in the summer of 2023. However, a key sticking point in negotiations between the two has been Biden’s continued stance that the US would support Taiwan if China were to invade it; at the same time, he has said that the US does not support Taiwan’s independence. Both of these stances are in line with the US’ longtime position on the matter, but escalating tensions between China and Taiwan have brought this to the forefront.

      Harris has a similar stance when it comes to Taiwan. In a September 2022 meeting with South Korean President Yoon Suk Yeol, she said the US was committed to opposing unilateral actions by China and would maintain the status quo in the South China Sea. The White House added that peace and stability across the Taiwan Strait was essential to a free Indo-Pacific region.

      Harris discussed trade routes in the region again when she attended the ASEAN summit in Jakarta, Indonesia, in September of 2023. She told CBS’s Margaret Brennan that it’s not about pulling out of Southeast Asia, but about de-risking the region and ensuring that American interests were protected.

      On an economic level, the Biden administration has distanced itself from China with policies such as the Inflation Reduction Act and Chips Act, which support the development of western supply chains for a variety of industries, including clean energy, electric vehicles and semiconductor chips, in part by introducing subsidies for companies that don’t rely on China for their supply chain.

      Meanwhile, China has accelerated its de-dollarization efforts, dumping roughly US$50 billion worth of US Treasuries and agency bonds during the first quarter of this year.

      Additionally, Biden’s role in implementing a strict set of sanctions against Russia following its invasion of Ukraine in February 2022 deepened a divide between the US and Russia, as well as the other BRICS nations.

      Among other sanctions, the US limited Russia’s access to SWIFT, a communications network that helps facilitate the global movement of funds. The US Department of the Treasury also implemented controls that effectively cut off Russia’s central bank and key funds and personnel from accessing the US financial system. Some analysts believe the move may work to undermine the US dollar as the global reserve currency in the long term, as it sent a signal to the rest of the world that the US is willing to effectively weaponize the US dollar.

      Investor takeaway

      Historically speaking, returns for gold under Democrat and Republican presidents have averaged 11.2 percent and 10.2 percent, respectively. But that might not be the data point investors should focus on.

      Which party controls Congress, which is comprised of the House and Senate, has had a far stronger influence on the gold price. Under Democrat-controlled Congresses, gold has averaged a 20.9 percent gain, compared to just 3.9 percent when Congress is controlled by Republicans. In cases where neither controls Congress, gold has averaged 3.5 percent.

      With that in mind, investors should consider the effects of policies enacted not only by the executive branch of the US government, but also by Congress and the Senate. Those hoping to use the immediate aftermath of the election outcome to their advantage should also proceed with caution — when it comes to gold, past elections haven’t provided great investment opportunities, with losses and gains typically being short-lived.

      Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

      This post appeared first on investingnews.com

      Troy Minerals Inc. (‘Troy’ or the ‘Company’) (CSE:TROY)(OTCQB:TROYF)(FSE:VJ3) is pleased to announce that following up on its aggressive plans to transition from an exploration company to a cash flow producing company by rapidly advancing its silica projects in North America and Mongolia, it has appointed, Yannis Tsitos, a professional with 35 years’ international exploration mining experience and former BHP veteran, as President of the Company

      Rana Vig, who to date has served both as President and CEO, owning more than 11% of the Company, will continue to provide his leadership as Chief Executive Officer.

      ‘Strengthening our management team is a very important step in order to advance our vision of transitioning Troy Minerals from exploration to production. I’m very excited to have by my side a seasoned and well-respected Canadian mining veteran who, without a doubt, will provide tremendous value to both myself and the company,’ said Rana Vig, Chief Executive Officer of Troy Minerals.

      ‘I’m thankful and very pleased to join the team at Troy at such an important period for transformational corporate milestones and significant growth. I have already been a good-size shareholder of the Company, as I believe that the critical minerals sector is now building momentum to meet the exponentially growing global demand. Troy and its projects are strategically located close to infrastructure in both Asia and North America and our management should continue working, efficiently and effectively, towards their development in order to become part of this exciting roadmap.’ said Yannis Tsitos, the Company’s newly appointed President.

      Mr. Tsitos has over 35 years of experience in the mining industry, having spent 19 of those years with the BHP Billiton group. In his time in the industry, he has worked projects in 32 countries inclusive of Mongolia, has lived and worked in South Africa, Ecuador, Greece and United Kingdom, and has been working in Canada since 2000. Originally a physicist-geophysicist, he left BHP in 2008, where he had the title of New Business Manager for Global Minerals Exploration. He has been instrumental in the identification, negotiation and execution of more than 50 exploration, joint venture, royalty, mining and commodity trading agreements over 11 different commodities with juniors, majors, as well as with state exploration and mining companies. He was the President of Goldsource Mines till its recent acquisition (July 2024) by the precious metals’ producer, Mako Mining. Mr. Tsitos sits on several companies’ boards as an Independent Director, has published articles in exploration and mining magazines on relevant topics and has been a strong advocate of anti-corruption policies in the mining industry.

      Mr. Tsitos has also been part of two discovery teams with BHP Billiton in porphyry-copper and nickel-sulphide deposits. He holds a B.Sc. degree in Physics from the University of Athens and a master’s degree in Applied Geophysics and Geology from the University of Birmingham, UK. In addition, he completed management and finance studies as part of an MBA program with Herriot Watt University, Edinburgh.

      MARKETING AGREEMENT

      The Company also announces that it has engaged Hillside Media & Consulting Inc., (‘Hillside‘) located at 474 Main Street, Penticton, B.C. V2A 5C5 (email: hillsideconsultingmedia@gmail.com) to provide digital marketing services, including SEO (search engine optimization), PPC (pay per click), e-mail, YouTube, and social media channels, to increase corporate awareness. The media disseminated will be generated using publicly available information. The company will pay Hillside a cash fee of $20,000 plus applicable taxes for services expected to last for a period of approximately 30 days. The company will not issue any securities to Hillside as compensation for its marketing services. As of the date hereof, to the company’s knowledge, Hillside (including its directors and officers) does not own any securities of the company and has an arm’s-length relationship with the company.

      ON BEHALF OF THE BOARD
      Rana Vig | CEO & Director
      604-218-4766
      rana@ranavig.com

      ABOUT Troy Minerals Inc.

      Troy Minerals is a Canadian based publicly listed mining company focused on building shareholder value through acquisition, exploration, and development of strategically located ‘critical’ mineral assets. Troy is aggressively advancing its projects within the silica (silicon), vanadium and rare earths industries within regions that exhibit high and growing demand for such commodities, in both North America and Central-East Asia. The Company’s primary objective is the near-term prospect of production with a vision of becoming a cash-flowing mining company to ultimately deliver tangible monetary value to shareholders, state, and local communities.

      Forward-Looking Statements

      Statement Regarding Forward-Looking Information: This release includes certain statements that may be deemed ‘forward-looking statements’. All statements in this release, other than statements of historical facts, that address events or developments that Troy Resources Inc. (the ‘Company’) expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects’, ‘plans’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘projects’, ‘potential’ and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include results of exploration activities may not show quality and quantity necessary for further exploration or future exploitation of minerals deposits, volatility of commodity prices, and continued availability of capital and financing, permitting and other approvals, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

      The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.

      SOURCE:Troy Minerals Inc.

      View the original press release on accesswire.com

      News Provided by ACCESSWIRE via QuoteMedia

      This post appeared first on investingnews.com

      If his first term in the White House is any indication, President-elect Donald Trump is likely to keep the Middle East high on his agenda.

      During his first four years, Trump made history by selecting Saudi Arabia for his first foreign trip, attempted to broker a “deal of the century” between Israelis and Palestinians, strengthened the Jewish state’s regional integration, and significantly intensified pressure on Iran.

      But the Middle East has changed significantly since he left office in 2021, and all regional actors are keenly watching how the new president will navigate these shifts.

      “Your historic return to the White House offers a new beginning for America and a powerful recommitment to the great alliance between Israel and America. This is a huge victory!” Israeli Prime Minister Benjamin Netanyahu posted on X on Wednesday.

      Gulf Arab states also welcomed the president-elect’s victory. Saudi Arabia’s King Salman bin Abdulaziz Al Saud and Crown Prince Mohammed bin Salman congratulated Trump, and the United Arab Emirates said: “the UAE and US are united by our enduring partnership based on shared ambitions for progress.”

      Iran downplayed the significance of the election, saying there is “no significant difference” in who becomes president in the US, state media reported. Fatemeh Mohajerani, spokesperson for the government, was cited by Iranian media as saying that the “general policies of the US and Iran are unchanged” after Wednesday’s ballot.

      Here’s how Trump’s election could affect key players in the Middle East:

      Israel and the Palestinians

      Ending the wars in Gaza and Lebanon and integrating Israel in the Middle East are likely to be at the top of the president-elect’s Middle East agenda, analysts said.

      “Netanyahu will face a much tougher president than he is used to in the sense that I don’t think that Trump would tolerate the wars in the manner that they are happening,” said Mustafa Barghouti, leader of the Palestinian National Initiative, adding that for Palestinians, it won’t make a major difference “because both administrations were totally biased” toward Israel.

      “He will say: wrap it up; I don’t need this,” Pinkas said, adding that Trump will likely ask the Israeli prime minister to “announce victory” and then strike a deal through mediators.

      Throughout his campaign, Trump has not specified how he would approach the Israel-Hamas war if reelected, or how his policies would differ from predecessor Joe Biden’s. In April, Trump did say that Israel needs to “finish what they started” and “get it over with fast,” noting that it was “losing the PR war” because of the images coming out of Gaza.

      Trump, Pinkas said, “couldn’t care less about the Palestinian issue.” During his first term, he didn’t throw his weight behind the US’ longstanding support for an independent Palestinian state, saying he would like the solution “that both parties like.”

      There is fear, said Barghouti, that Trump may allow Israel to annex parts of the Israeli-occupied West Bank, which would spell “the end of the two-state solution.”

      During his first term, Trump took several steps in Israel’s favor. In 2017, he recognized Jerusalem as the capital of Israel, upending decades of US policy and international consensus. He also recognized Israel’s sovereignty over the Golan Heights, which it captured from Syria during the 1967 war.

      But while Trump has often claimed to be most pro-Israel president in modern history, and even touted his close and personal relationship with Netanyahu, ties between the two leaders haven’t always been friendly.

      In 2021, when both were out of office, Trump accused Netanyahu of betrayal when the Israeli leader congratulated Biden on winning the presidency in 2020.

      Shortly after Hamas’ October 7 attack on Israel last year, Trump criticized Netanyahu and Israeli intelligence services for being unprepared, claiming the attack would not have occurred if he was president.

      The accords, a set of agreements facilitated by Trump’s first administration that saw Israel normalize relations with four Arab nations, put prospects of an independent Palestinian state on the back burner, he said.

      “When the war will be over, you’ll need a real restart in the Middle East,” and Trump will be the best person to bring about a “new Middle East,” Bismuth added.

      Nadav Shtrauchler, a political strategist who has worked closely with Netanyahu, said Trump’s election sends a message to Israel’s enemies in Iran.

      The Israeli prime minister is also likely emboldened domestically, a day after he fired Defense Minister Yoav Gallant after months of clashes over domestic politics and Israel’s war efforts.

      “He’ll calculate his next moves maybe different from he would if Harris was elected,” Shtrauchler said, adding that Trump’s unpredictability could mean that there will be more pressure on Israel to end the wars in Gaza and Lebanon, potentially to refocus efforts at confronting Iran.

      Iran

      The next four years could be the Islamic Republic’s biggest test since its founding in 1979, with Tehran under Trump’s scrutiny that would most likely lead to a return of the “maximum pressure” campaign he imposed during his last presidency, which increased Iran’s isolation and crippled its economy, experts say.

      Trump, who prides himself as a master dealmaker, failed to contain Tehran’s influence in the Middle East despite withdrawing from the 2015 nuclear agreement to curtail Iran’s nuclear program, reimposing sanctions on it, and even ordering the assassination of Qasem Soleimani, the military commander who oversaw ties with Iran’s proxies in the region.

      Since Trump left office in 2020, Iran has ramped up enrichment of uranium, increased its oil exports, stepped up support for regional militant groups, and has set a precedent by striking Israel in a direct attack twice.

      But as Israel continues to degrade Tehran’s regional capabilities by striking its proxies, Iran finds itself losing its deterring powers as it faces economic turmoil and widespread internal discontent.

      “The Islamic Republic appears as fragile as the threats against it are formidable,” said Ali Vaez, director of the Iran Project and senior adviser at the International Crisis Group, adding that 86-year-old Supreme Leader Ayatollah Ali Khamenei has limited bandwidth to be dealing with all the crises happening at the same time.

      As the Middle East teeters on the brink of a wider war, with Iran threatening to respond to an Israeli attack on its territory this month, there are concerns that Trump’s election may empower Netanyahu to strike Iran’s nuclear facilities, something the Biden administration warned against.

      “There is one scenario that Trump will tell Netanyahu to finish the job before he formally takes over, that means we might see a sharp escalation in tensions in November and December – Israel trying to push its advantage to weaken Iran and its Axis of Resistance (of militant groups) before Trump comes to office… then Trump comes in and takes credit on being a peacemaker,” Vaez said.

      That could change if the Biden administration decides to “pull the plug” on Israel’s ability to escalate tensions in its final months in office, he said. The US has already laid the ground for that by sending a letter to Israel last month warning of repercussions if Israel does not improve the humanitarian situation in Gaza.

      An important factor in Iran’s relationship with the next US president will be how Trump responds to recent US intelligence reports suggesting that Tehran attempted to assassinate him – allegations Iran dismissed as “unsubstantiated and malicious.”

      But there must be a clear distinction between Trump and the Trump administration, said Vaez.

      “Trump might be attracted by the allure of outwitting the Iranians at the negotiation table because that for him would be the ultimate test of his mastery in the art of the deal,” he said, adding that during his first term, he was attracted to the prospect of dealmaking with Iran.

      “Iran never won a war, but never lost a negotiation!” Trump wrote in a tweet in 2020.

      Vaez noted that a revival of Trump’s “maximum pressure” approach might be paired with a policy of “maximum support” for Iranian people – a potential regime changing policy. This, he argued, would make it unlikely for the two countries to return to the negotiating table.

      “I don’t think anyone in (Trump’s) national security team would share the objective of reaching a mutually beneficial deal with the Iranian regime,” he added.

      Saudi Arabia and the Gulf states

      Anticipating his possible comeback, Gulf Arab states continued to engage with Trump after he left office. Analysts say that could prove fruitful for them.

      Relations between Saudi Arabia and the US under Trump’s first term flourished. He made history by choosing Riyadh for his first foreign visit as president in 2017 and stood by Crown Prince Mohammed bin Salman during the crisis surrounding the murder of Washington Post columnist Jamal Khashoggi at the hands of Saudi agents in 2018, when the Saudi heir faced global isolation.

      “Gulf states place a lot of premium on the ability to work with a likeminded leader and conduct relations through interpersonal contact… It reflects the way they do business with other countries as well,” said Hasan Alhasan, senior fellow for Middle East policy at the International Institute for Strategic Studies in Bahrain.

      During his first term, Saudi Arabia and the UAE were engaged in wars in Yemen, and both countries’ ties with Iran were at their worst in decades.

      But Gulf states have significantly modified their foreign policies since, opting to limit their military interventions and reach out to former foes like Iran, while diversifying alliances in an increasingly multipolar world amid skepticism over the US’ role in the Middle East.

      “With Iran, there is a chance that Trump reverts to a maximum pressure stance and given the improved relations with Iran (Gulf states) could be subjected to greater pressure from the US to abide by the maximum pressure,” Alhasan said.

      One challenge that emerging middle-powers like Saudi Arabia and the UAE could face under Trump will be managing their closer relationship with China. Over the past years, the oil-producing states have expanded trade and technology ties with China despite competition between Washington and Beijing.

      Saudi Arabia and the UAE were invited to join the BRICS group of developing nations, and Saudi Arabia was granted dialogue partner status in the Shanghai Cooperation Organization (SCO) – a China-led Asian security and economic bloc.

      Riyadh and Abu Dhabi have used Chinese technology for key infrastructure, and despite pledges to limit Beijing’s influence on their emerging artificial intelligence sectors, Saudi Arabia and the UAE have increasingly relied on Chinese expertise.

      “It’s a question of whether the Trump administration will exert greater pressure on Gulf states to decouple from China in certain areas, not to mention the tariff and trade wars that are likely to be exacerbated under a Trump administration which could have an impact on (Gulf) exports as well,” Alhasan said.

      Trump also hopes to expand Israel’s integration in the Middle East but may face a challenge in Saudi Arabia’s refusal to normalize relations with the Jewish state until it sees a pathway for Palestinian statehood, which Israel has refused.

      Qatar, one of the first nations to congratulate Trump, has become indispensable to US efforts in reaching a ceasefire in Gaza due to its relations with Hamas. Those relations may however prove to be a liability under Trump, according to Alhasan.

      “They’re probably quite worried about what a Trump 2.0 might be,” he said.

      This post appeared first on cnn.com

      When the United States votes for a new president, the outcome reverberates far beyond its borders.

      Russia: Uncertainty over Ukraine policy tempers optimism over Trump return

      When Trump was first elected in 2016, Russian politicians literally popped champagne corks.

      Those were simpler times. Russia had been accused of hacking into the Democratic National Committee several months earlier. Trump was busy dismissing those allegations and resolutely refusing to criticize Moscow. Russian President Vladimir Putin also had serious historical beef with Trump’s rival, former Secretary of State Hillary Clinton, for what he saw as her role in fomenting protests in Russia in 2011. For Russia it was Trump: good, Clinton: bad.

      This time, the fog of an almost three-year-old war has somewhat clouded the picture.

      In February, Putin wryly claimed he would prefer Joe Biden to win because he was more “predictable.” There may have been more than just trolling here. Despite Trump’s toughening rhetoric towards Ukraine, and his running mate’s JD Vance’s open opposition to sending more US military aid to Kyiv as it battles Russia’s invasion, it’s not yet clear if Trump would, or could, cut the purse strings for Ukraine.

      “Trump has one useful quality for us: as a businessman through and through he is dead against spending money on various hangers-on and lackeys, on dumb little allies, bad charitable projects and gluttonous international organizations,” wrote former Russian President Dmitry Medvedev, now a senior security official, on his Telegram channel Wednesday, adding that Ukraine is “one of those.”

      “The question is, how much will they force Trump to give to the war. He is stubborn, but the system is stronger,” he said, a clear reference to the vital role the US Congress plays in funding Ukraine. Down-ballot races also matter in Moscow.

      In the early hours of Wednesday morning, Margarita Simonyan, the editor-in-chief of RT and now top Kremlin propagandist, wrote simply: “Trump won. Go to sleep, team.” Eight years ago, she was posting about driving through Moscow with an American flag in her car window.

      The Kremlin also kept it professional, with spokesman Dmitry Peskov noting only that Trump had “expressed his peaceful intentions on the international stage and his desire to end the ongoing policies of extending old wars,” but that in terms of next steps, “we will see after January,” when he takes office.

      Middle East: Israel welcomes Trump return but elsewhere there’s trepidation

      Just minutes after Trump had himself declared victory, Israeli Prime Minister Benjamin Netanyahu issued gushing congratulations, calling the US election result “history’s greatest comeback.”

      “Your historic return to the White House offers a new beginning for America and a powerful recommitment to the great alliance between Israel and America,” Netanyahu said on X.

      Ahead of the vote, opinion polls indicated Israelis overwhelmingly favored another Trump presidency.

      The Biden administration – including Vice President Kamala Harris – is seen here as having sought to restrain Israel’s tough military response in Gaza, Lebanon and Iran in the aftermath of the Hamas-led attacks on southern Israel in October last year.

      Trump’s presidency, on the other hand, is remembered for a series of pro-Israel moves, like relocating the US embassy to Jerusalem, recognizing Israeli sovereignty over the Golan Heights, and taking a tough stance on Iran.

      From a second Trump term in the White House, Israel may be hoping for even more full-throated US support for its military plans.

      Elsewhere in the Middle East, Trump’s election victory has been greeted with trepidation.

      A spokesman for the Iranian state said a Trump presidency will make “no significant difference” to them. But amid a spiraling confrontation with Israel, which said it had carried out unprecedented airstrikes on Iranian missile production facilities and air defenses last month, the possibility of even firmer US support for Israel is likely to be a major concern for Tehran.

      Hamas, the Iran-backed Palestinian militant group still holding a large number of Israeli citizens hostage in Gaza, has called for an immediate end to America’s “blind support for Israel and its fascist government.”

      Europe: Wary leaders face prospect of higher security costs and NATO funding questions

      In Ukraine, where the rubber meets the road in the coming friction between Europe and President-elect Trump, German Foreign Minister Annalena Baerbock tried to strike a conciliatory tone, saying: “Germany will also be a close and reliable ally for the future American government. That is our offer.”

      But like all the statements of support coming from European leaders early Wednesday, the offer belies deep concerns that Trump doesn’t care what his allies think.

      On the campaign trail, Trump vowed to end the war in Ukraine “in a day,” raising fears among NATO allies he’ll reward Putin’s illegal invasion and rampant aggression with territorial gains that will whet the Russian dictator’s appetite for further military conquests, potentially inside NATO’s borders.

      The European pitch to Trump not to throw Ukraine under Putin’s nationalist drive to steamroller former Soviet states into submission is undoubtedly going to be heated. As Baerbock says: “As in any good partnership: where there are unquestionable political differences, an honest and, above all, intensive exchange is more important than ever.”

      That exchange, in part, will likely focus around Trump’s not unreasonable fixation that Europe should pay for its own security, rather than expect the United States to bail it out.

      There will undoubtedly be reminders that of the $190 billion in economic and military aid the European Union and United Kingdom give to Ukraine, $29 billion is spent on buying American weapons for the Ukrainians. In short, the US gains too.

      The new NATO Secretary General, former Dutch Prime Minister Mark Rutte, appears to be taking a leaf from his predecessor Jens Stoltenberg’s book on managing Trump, playing to his ego as he congratulated the soon-to-be-leader of the most powerful partner in the now 32-nation alliance by saying “his leadership will again be key to keeping our alliance stronger.”

      Careful supplication might help keep the alliance alive; it worked for Stoltenberg. But Zelensky’s chances of keeping Ukraine whole and not losing any territory in a Trump-hastened deal with Putin to end the war may be receding, leaving him clutching at straws.

      Zelensky, like the others playing to Trump’s vanity through praise, said: “I appreciate President Trump’s commitment to the ‘peace through strength’ approach in global affairs. This is exactly the principle that can practically bring just peace in Ukraine closer. I am hopeful that we will put it into action together.”

      Baerbock, whose own government is at risk of breaking apart under huge economic pressure, is already pragmatic about the political, diplomatic, and economic uncertainties a Trump victory brings, saying: “Europeans will now have to assume even more responsibility for security policy.”

      China: Fears over unpredictability of another Trump term

      In 2020, Chinese leader Xi Jinping didn’t congratulate Biden until more than two weeks after the Democratic candidate was projected the winner of the US presidential election. Xi likely won’t wait that long this time around – and many of his underlings had been mentally prepared for a Trump victory for months as they watched the race with a mixture of bewilderment and growing anxiety.

      Publicly, throughout the campaign, Chinese officials and state media had been flooding the public with a narrative of Washington’s “bipartisan consensus” to contain and suppress China’s rise – in other words, “both candidates are equally bad.” In a country known for its ever-tighter media control, this messaging sinks deep in many people’s minds – weighed down by a sluggish economy – along with a picture painted for them highlighting political polarization and violence in the US, in stark contrast to that of unity and stability under Xi’s iron grip.

      For those whose life or work is more intertwined with the US, though, a second Trump term appears to be a lot more unsettling. One of the oft-heard talking points from Beijing is that Trump’s “America First” approach benefits China strategically – on issues ranging from Taiwan to the South China Sea – compared to a united front with US allies and partners targeting China advocated by Biden and Harris.

      However, Trump’s trademark unpredictability is the one trait that kept many Chinese officials awake at night and still haunts them, especially in a place where certainty in government and policy is almost a given under one-party rule. Some officials, in private, had been fretting over the prospect of disruption or even total halt to just-resumed US-China talks – and its consequences for both sides and the world – on subjects that include economic and military affairs, fentanyl crackdown and climate change.

      Trump’s campaign rhetoric on new tariffs and the dark cloud over immigration have jolted Chinese exporters and students. And his pending White House return has even hit home for China-based foreign journalists, who still remember Trump’s decision to kick out numerous Chinese state media journalists in the US, ushering in a round of tit-for-tat that has now left only two dozen or so American reporters in China to cover this superpower of 1.4 billion people.

      Taiwan: Defense and economic concerns dominate

      Election observers in Asia view Trump’s apparent win as a source of significant uncertainty and a potential double-edged sword for the self-governing island of Taiwan.

      Trump has previously indicated that Taiwan should contribute more financially for US defense support, potentially reshaping the partnership between the two sides, and increasing pressures on the democracy of 23 million.

      China’s ruling Communist Party views Taiwan as part of its territory, despite never having controlled it, and has vowed to take the island by force if necessary. Under the Taiwan Relations Act, Washington is legally required to provide the island with the means to defend itself, and it supplies Taipei with defensive weaponry. But the arms sales have drawn angry rebukes from Beijing.

      In a statement, Taiwan’s President Lai Ching-te congratulated Trump and Vance on their electoral victory, and thanked Biden and Harris for their resolute support for Taiwan during their term. Lai stressed the importance of Taiwan’s friendship with the US and said Taipei would “continue to cooperate closely with the new US government and Congress to create a new chapter in Taiwan-US relations.”

      Meanwhile, Taiwan’s main opposition party, the Kuomintang (KMT), which favors warmer ties with Beijing, voiced a hopeful outlook, expressing confidence that Trump’s experience could pave the way for “steadier bilateral relations” and foster closer cooperation between the US and Taiwan.

      Aside from defense, economic concerns add another layer of potential tension. Trump has repeatedly accused Taiwan of “stealing” US chip business and has even threatened tariffs on Taiwan’s critical chip exports – used to power an array of modern technologies, from smartphones to satellites.

      However, analysts say, far from stealing, Taiwan grew its own semiconductor industry organically through a combination of foresight, hard work and investment.

      Taiwan now faces the challenge of navigating Trump’s shifting priorities, balancing both opportunities and uncertainties. Ultimately, the full impact on US-Taiwan relations remains to be seen, and hinge on who will be advising Trump on foreign policy.

      Korean Peninsula: Big questions loom for South and North

      Could President-Elect Trump reduce the number of American troops on the Korean Peninsula, or ask South Korea to pay more for its US security guarantee, once in office?

      Those are the central questions now facing Seoul, as Trump has openly considered downsizing the approximately 28,500 US troops stationed in South Korea.

      During an interview last month with the Economic Club of Chicago and Bloomberg News, Trump said if he served a second term, South Korea would pay $10 billion for US troops.

      Seoul currently pays $1.13 billion annually for American military forces within its territory, a figure which under an agreement signed Monday is expected to rise to $1.26 billion annually in 2026.

      “If I were there (in the White House) now, they’d be paying us $10 billion a year. And you know what? They’d be happy to do it,” Trump said. “It’s a money machine, South Korea.”

      South Korea currently hosts the largest US overseas military base, Camp Humphreys, an Army garrison about 60 miles from North Korea. The South Korean government financed 90% of Camp Humphreys’ expansion costs within the past decade.

      The American presence on the Korean Peninsula serves as a counterweight to North Korean and Chinese military forces, with joint military drills between the US and South Korea launching frequently from the American installations.

      Would the drills cease or be reduced once Trump returns to office? Some of the exercises have also included Japan, after the Biden administration forged a new security partnership between Tokyo, Seoul, and Washington. Will that security pact continue with the same force into the next Trump administration?

      Another question looming large in Seoul and Pyongyang: Will Trump seek another high-profile summit with North Korean leader Kim Jong Un? The cautious answer, according to Trump’s last national security adviser, Robert C. O’Brien: “I think we’d resume talks with North Korea.”

      But if another summit were to happen, Trump would face an emboldened North Korea. Kim has since forged a new military partnership with Putin, sending munitions and North Korean special forces troops to fight in the Ukraine war.

      In exchange, observers note, Putin may help Kim with advanced military technology, and send the isolated nation badly needed cash. North Korea is in desperate need of income after years of crippling sanctions over its nuclear program.

      North Korea now has less of a reason to negotiate with Washington, since it’s the beneficiary of diplomatic cover, economic, and military resources from Moscow.

      Trump, meanwhile, will likely demand change from both sides of the DMZ.

      Africa: Cautious optimism over Trump win

      Trump has many fans in Africa, despite the declining influence of the US on the continent and widespread anti-Western sentiment. Africa’s population is overwhelmingly Christian or Muslim in faith so Trump’s “family values” positions, especially on abortion and LGBTQ issues, resonate deeply here. Colonial-era anti-homosexuality laws remain in place in large parts of the continent and the American right’s messaging on culture war issues has spread like wildfire on African social media.

      Even though Harris travelled to Africa as vice president – visiting Ghana, Tanzania and Zambia – many here believed misinformation that falsely claimed that she had not accepted her Black identity before the campaign and that her Jamaican ancestors owned slaves. That is why some prefer Trump, who reportedly referred to African nations as “shithole countries” in 2018, over Harris who they grumbled was not proud of her African roots and identified as Indian.

      The myth of Trump as a successful businessman remains strong in Africa, partly because “The Apprentice” TV show was widely distributed. Many on the continent have also embraced the Republican narrative of a strong US economy during the first Trump presidency. Their hope is that a stronger global economy bodes well for African trade with the rest of the world.

      Africans who want an end to what they see as US meddling support Trump, hoping that his “America First” policy means he will leave the continent alone. Many analysts say Africa has fared better under Republican administrations, and view Trump’s win with cautious optimism. One example is the US President’s Emergency Plan for AIDS Relief (PEPFAR) which was launched by George W. Bush 21 years ago and has saved many lives.

      The Biden-Harris administration’s efforts to counter China’s influence in Africa will likely suffer with Trump’s win. It’s not clear if Biden will still visit Angola early next month to highlight one of those initiatives – the Lobito Corridor.

      Latin America: Bracing for Trump

      Trump’s victory holds enormous impact for Latin America.

      Conservative leaders such as Argentinian President Javier Milei and El Salvador’s President Nayib Bukele, as well as Jair Bolsonaro, the former Brazilian president, were among the first to congratulate Trump and will feel emboldened by such a conclusive win.

      Progressives like Colombia’s Gustavo Petro and Mexico’s Claudia Sheinbaum are instead bracing for a bumpy relationship with the new White House.

      Mexico will probably bear the brunt of the next four years because, as the US’ largest trading partner, its exports could be hit hard by the protectionist tariffs Trump has promised: on Wednesday morning the Mexican peso tumbled to its weakest level in two years before partially recovering in later trading.

      Sheinbaum told reporters Wednesday that “there is no reason for concern” and that the US and Mexico “don’t compete with each other,” but her administration will be pressed to get on good terms with Trump quickly and sign a deal before the new economic policy is drawn.

      Much of that deal will rest on migration, with Mexico required to play a more active role in limiting arrivals at the US’ southern border.

      Trump’s pledge to forcibly deport millions of undocumented migrants, if enacted, could wreak havoc across the region, where many countries depend on remittances from the US to boost their economies.

      That said, restraining migration towards the US will remain a formidable challenge in the next four years, especially if Trump’s plans boost domestic production at the expense of economies in the rest of the Americas.

      Lastly, authoritarian regimes such as those in Venezuela and Nicaragua could see the benefit of a more transactional approach to foreign policy, the new White House happy to overlook their anti-democratic abuses as long as migration trends are reverted.

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