Bitcoin touched 89000 dollars after Trump's victory..!

The crypto markets have been on a great upswing for the past few days. In particular, Bitcoin, the leading crypto coin, surged to its all-time high, hitting an all-time high of $89,000. The US presidential election was held on november 5. Republican candidate donald trump won. Kamala harris who contested against him lost. This has set a favorable environment for crypto markets. As Trump's victory as president is still being celebrated in the US, Bitcoin continues to hit a record high of $89,000 in the crypto market. According to Coin Metrics, the price of the flagship cryptocurrency was last up 12% at $89,174. Recently, it hit a new high of $89,623. Ether is up 7% to $3,371.79 after a 30% rally over the past week. It surpassed $3,000 over the weekend. The decentralized token tied with Cardano was up 4.7%. Dojcoin continued to rise by almost 24%. This sent Coinbase MicroStrategy up 19.8% to 25.7% in last Monday's trading.
Susannah Streeter, head of money and markets at investment platform Hargreaves Lansdown, noted that last week's election of trump as the US president is cheering for crypto markets, hence crypto's rally. Trump's pledge on crypto has sent Bitcoin to new heights, he said. Previously, trump had taken a turn to support the industry. Now he has promised to make America the crypto capital of the world. Thus, Bitcoin speculators are betting on a more robust regulatory environment. And there is the expectation that authorities may create reserve crypto funds. This helps to boost current demand. trump made many promises to the crypto industry during the pre-election campaign. In it, it claims to make the united states the capital of the crypto planet, insisting that the country should have all bitcoins. He also promised to fire US Securities and Exchange Commission Chairman Gary Gensler, who has taken an aggressive approach to crypto. They noted that spot crypto ETFs saw some of their biggest inflows since the election. Specifically, net inflows for BTC and ETH ETFs in the two days following the election were $2.01bn and $132mn respectively. According to some analysts, crypto is expected to continue to rise in the future. Bitcoin is also said to hit the $100,000 milestone by the end of the year.
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Sowmiya Sriram

12/11/2024 10:27 AM