Bitcoin, the most valuable and best-known cryptocurrency on the market, has marked a new high this Thursday in its climb since the electoral victory of Republican Donald Trump in the United States towards $100,000. The cybercurrency has managed to trade above $98,500 in the session, in the hope that Trump will create a more favorable regulatory environment for cryptocurrencies.
Bitcoin has accumulated a rise of 45% since last November 5, the date on which the presidential elections in the North American country were held. Since then, when bitcoin was trading around $67,000, the cryptocurrency has not stopped breaking out and has already more than doubled its value so far this year (up 130% since the end of 2023).
He rally Bitcoin was unleashed due to the expectation that the new US president would adopt a more favorable position towards crypto assets, since during the electoral campaign in the race for the White House, Trump promised to turn the country into the world capital of cryptocurrencies. create a strategic reserve of bitcoin and appoint regulators who would bet on digital assets.
Once his return to the presidency and the Republican majority in the Senate are confirmed, as well as the probable dominance of the House of Representatives, the new Administration would have broad powers to implement its policies.
The country lead of Bitpanda for Southern Europe and CEE, Mireya Fernández, has indicated that, through the “forceful election” of Trump in the last elections, the uncertainty “has come to an end.”
“The main source of instability has disappeared,” he stated, and then indicated that the result is that one of the largest economies in the world, such as the United States, is prepared to implement liberal and favorable regulation for the cryptocurrency sector. .
In addition, the directive has pointed out that the sector has already achieved “positive progress” in recent years, such as the increase in the adoption of digital assets by retail investors, the regulation of the crypto market in Europe, cuts in rates of interest of central banks and the integration of cryptocurrencies into traditional systems.
“The market is eager and prices continue to show an upward trend,” stated Fernández, pointing out that the level already close to $100,000 will represent a “real turning point” for the crypto sector.
For his part, Julius Baer digital asset analyst Manuel Villegas commented that prices are “well supported” by fundamentals, while the context of “strong demand” has now been fueled by Trump’s announcement. to create new departments such as the Department of Government Efficiency, whose leadership will fall to Elon Musk and whose acronym in English, DOGEmatch the name of a cryptocurrency.
However, Villegas has also anticipated that in the future there should be episodes of volatility in the sector.
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