In the United States, the election process has resumed, and Bitcoin and altcoin markets are closely watching.
As the US gradually prepares for the November 3rd Congressional elections, President Donald Trump yesterday began his election campaign in Texas.
Trump boldly began his election campaign, announcing that adult U.S. citizens will receive a payout of $5,000 if the Republicans win the election.
"Trump: $5,000 for Every Adult Citizen!"
Speaking yesterday at a Republican rally in Dallas ahead of the midterm elections, Trump announced that if the Republicans, as is currently the case, win the Senate and House elections, every adult U.S. citizen will receive $5,000.
However, he stipulated that the funds must be used within the United States. President Trump said: "I don't want you spending this money in Canada, China, or Germany. The only condition is that the money must be spent in the United States."
However, in his speech, Trump did not provide any details on how these $5,000 payments would be funded.
According to Reuters calculations, given the U.S. adult population of approximately 270 million, the total cost of the program could reach about $1.35 trillion. However, according to experts interviewed by Reuters, a presidential decree alone will not be enough to implement such payments; Congress will also need to pass corresponding legislation.
This Could Trigger an Altcoin Season!
Following Trump's promise of a $5,000 payout, the potential impact of this plan on the cryptocurrency market has also come to the forefront.
At this stage, cryptocurrency analyst Mark Chadwick suggested that if Donald Trump's plan to pay a $5,000 "dividend" to adult Americans is implemented, a strong wave of liquidity could arise in the cryptocurrency market, triggering a massive altcoin season.
In a post on his X account, Chadwick described Trump's plan as a liquidity catalyst similar to the COVID-19 economic stimulus payments in 2021. According to the analyst, new money entering the market could provide additional momentum to a bull market, which he believes is already beginning to form.
Previously, Chadwick stated in his analyses that the long-term downtrend in the altcoin market has been broken and that the current technical picture resembles previous major altcoin rallies.
*This is not investment advice.
