Trump Effect on Forex Market and Bitcoin

Earlier before the administration of Donald Trump took office on Friday, January 20, 2017, several analyst in the financial sector have predicted the rise of alternative investment to the US Dollar. These alternative investment has no doubt been found in Crypto-currency most notably bitcoin Crypto-Currency. To add to the global uncertainty in the financial market is the constantly changing position adopted by the POTUS on key issues, especially on immigration and trade relations with other countries. As I sit on my computer, reflecting on the events of these past few months, I cannot help but wonder if this phenomenon known as the “TRUMP EFFECT” that started out as a joke has come to be a permanent factor that needs to be given adequate consideration before any financial investment is made. The rise of Bitcoin shows no intention to stop in the nearest time. It is also interesting to note that most currency pairs are trading bullish against the Us Dollar in the Forex market. As the year unfolds let’s hope for some stabilizing force to neutralize this lingering phenomenon called the “TRUMP EFFECT”.

Chart showing the current price of bitcoin as against the US Dollar (Image Source: http://www.xe.com)