What? Trump's election as president will cause Bitcoin prices to soar

Bitcoin trading volumes are expected to more than triple this year, helped by expectations of a successful Donald Trump presidency, according to a market research report published this week. The digital currency’s price is expected to rise in the wake of Trump’s victory in the US presidential election, although some market commentators believe it will lead to market turmoil.

“If Donald Trump becomes president of the United States, one can clearly expect turbulence in world markets, with the Economist Intelligence Unit listing a Trump presidency as one of the top ten global risks,” Windsor Holden , head of forecasting & consulting firm Juniper Research , said in a report. “However, Bitcoin trading will thrive in such an environment, at least until the impact on major fiat currencies becomes clear.”

In a research report published by Juniper Research , it is predicted that the total volume of Bitcoin transactions may exceed $ 92 billion by the end of this year . In 2015 , the total volume of Bitcoin transactions was less than $ 27 billion.

Other reasons for the predicted surge in Bitcoin trading volume include uncertainty about the impact of Brexit on the global economy, weakness in China's economy, and the fact that as more Bitcoins are created over time through the mining process, the total amount of Bitcoin is limited, leading to an expected tightening of the supply of new Bitcoins, thereby supporting its price.

Bitcoin has fallen since hitting a multi-year high of $ 760 in mid- June . On Monday, it was trading around $ 677 . But it is up 56 percent so far this year .