The potential return of former president Donald Trump to the White House would trigger a surge in bitcoin's value, according to analysts quoted by the Financial Times. The concept of a "Trump trade" is gaining popularity among cryptocurrency traders as the former president is "perceived to have pro-cryptocurrency positions and policies". Recently, the performance of the flagship cryptocurrency has been hampered by a miner sell-off and regulatory actions by authorities in the United States and Germany. Expected repayments from the Mt. Gox bankruptcy also exacerbated market volatility, causing bitcoin to fall below $54,000 for the first time in months. Still, analysts remain optimistic that a Trump victory could lead to a major rally in Bitcoin, with the potential to hit another all-time high in August and reach $100,000 by Election Day.