How did Bitcoin do during Trump’s first 100 days?

American news channels were undecided whether we could close Trump’s first 100 days  on Wednesday or Tuesday but at least they gave a handy financial overview. Trump started his second term at the end of January and certainly had a lot of influence on the stock exchanges, on fiat currencies and on crypto prices.

Bitcoin did quite badly in February and March but started a roaring comeback in April.

Reaganomics

Trump’s first hundred days looks a bit like the second term of Ronald Reagan. That very popular Republican President also won the right to a second term after his first term in the eighties, but during that second period the stock markets performed very badly. His economic ideas, called ‘Reaganomics’, seemed to no longer work.

At the moment, Trump also seems to do much worse for the stock market in his second than in his first term.

On the crypto market, he launched his own memecoin just before his own inauguration, but it wasn’t really a big success except for the first weekend. On top of that, he promised to create a strategic Bitcoin reserve, but that didn’t really come to fruition either.

In those first few months, the Bitcoin price did just as badly as the stock markets, dropping by about 20% from $95,000 to $75,000. But ever since Trump’s ‘Liberation Day’ on April 2, the largest digital currency has seen a turnaround.

Gold

Ever since then, Bitcoin, like gold, has been seen as a ‘safe haven’ while the falling dollar gives it a safety cushion to find support. It is unclear how things will continue for Bitcoin under Trump, but if we get through this ‘pause week’ without any problems, I am actually quite positive about the coming weeks and months.

A jump above $100k if the pain of Trump’s import tariffs really hits the Americans is in my view possible. At the moment though, gold is still the biggest winner of 2025 (as is the German Rheinmetall) and that is still something that is painful to watch as a Bitcoin fan.