UK crypto retail traders are betting on a Trump presidency to drive gains in the crypto market this year, with nearly 30% expecting returns of at least 30%, according to research from GraniteShares, a global issuer of ETPs.
The study found that 56% of traders believe Trump’s policies will positively impact crypto markets, with expectations of regulatory rollbacks and a pro-crypto stance fuelling optimism. Another 51% cited increased confidence in the sector, while 46% pointed to recent strong performance as a key driver for their bullish outlook.
About 67% of traders shared that they anticipate gains of at least 10% from crypto trading in 2024, with 20% expecting up to 10% in returns. Only 3% foresee no returns, while 10% remain uncertain about their performance this year.
The optimism follows a strong year for crypto traders in 2023, according to the researchers. The report revealed that 26% of respondents secured returns of 30% or more, while 37% earned over 10%, and 24% made up to 10%. However, 7% admitted to losses, and 6% either made no gains or were unsure of their returns.
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The study also highlighted a shift in perception about crypto as an investment class. Nearly 32% of retail traders now view cryptocurrency and digital assets as mainstream investments, while 21% believe the market is becoming less volatile. Improved regulatory oversight may also be a factor, with 26% noting that the industry has “cleaned up” since the crypto winter of 2022, which saw the market lose approximately 70% of its value.
Catarina Donat Marques , head of European retail strategy at GraniteShares, said: “The price of Bitcoin increased by around 125% last year and broke the psycho logically important $100,000 barrier with the US Presidential election result, a major factor in the rise.
It is not the only reason for the growing interest in crypto trading, with the launch of spot ETFs in the US at the start of last year also adding to momentum. Similarly crypto-related companies such as MicroStrategy and Coinbase have seen strong growth, Donat Marques shared. “We offer ETPs providing long and short leveraged exposures to such stocks. They are designed for short-term investment horizons but can also be held profitably over longer periods, where the compounding effect of the daily leverage can be beneficial if there is a clear trend,” added Donat Marques.
