The "Trump Effect" Fuels Market Surge and Bitcoin's Historic Peak at $108,000

In a final campaign rally before his inauguration, Donald Trump highlighted what he described as the “Trump Effect,” attributing the surging financial markets and Bitcoin's record-setting $108,000 valuation on December 17 to his election victory.

"You’re witnessing results that nobody thought were possible," Trump declared, pointing to unprecedented gains across various sectors. He cited the stock market's rally and a 39-year high in small business optimism as clear indicators of his influence.

The stock market’s post-election momentum was undeniable. On December 11, the S&P 500 reached a new high of 6,090, followed by the Nasdaq breaking 20,204 on December 16. Bitcoin, too, soared to an all-time high of $108,000, before briefly dipping below $90,000 and rebounding above $100,000 shortly after.

Adding a twist to the cryptocurrency narrative, Melania Trump entered the digital asset scene with the launch of her memecoin, MELANIA, which attracted significant attention and reached a fully diluted valuation of $5 billion. However, the coin’s rise came at a cost, triggering a dip in the value of Bitcoin to $101,000 and significantly impacting the market capitalization of the Official Trump Memecoin, which lost nearly half its value.

Despite these crypto fluctuations, Trump remained focused on his broader economic legacy, emphasizing the sustained market highs and optimism tied to his leadership.