Trump's Pro-Crypto Push Sparks Altcoin Season Speculation

The U.S. Securities and Exchange Commission's (SEC) new guidelines have sparked speculation about a potential new altcoin season, with experts weighing in on the implications for the crypto market. The current pro-crypto policy of the U.S. government, led by President Donald Trump, has provided a genuine runway for crypto trading, according to Matt Hougan, Chief Investment Officer of Bitwise.

Hougan believes that the time is ripe for investing in crypto, despite the recent price drops for many coins, including stablecoins like Bitcoin. He notes that the growth of other digital assets has been lackluster, with only Solana and XRP showing significant progress. The general crypto market has been struggling, and altcoins are not expected to lead the next bull run anytime soon.

The departure of former SEC chairperson Gary Gensler, a known crypto skeptic, has raised hopes for more favorable crypto trading regulations. Hougan suggests that the change in regulations could help altcoins emerge from the regulatory grey zone and stimulate growth that has been stunted in the past four years.

Trump's pro-crypto standards have prioritized the growth of stablecoins, which could add momentum to the market and encourage buy-ins. If this happens, coins like Ethereum and Solana could receive the necessary boost to overcome the current bearish phase. Additionally, the government is working to facilitate trading through user-friendly crypto applications, making it easier for micro retail traders to participate in decentralized finance (DeFi) applications.