The quote of the cryptocurrency bitcoin skyrocketed to an all-time high above $82,000 this Monday on expectations that cryptocurrencies will experience a boom in a favorable regulatory environment after the election of Donald Trump as president of the United States.
On the eve of the elections in the US, the price of the largest and best-known cryptocurrency in the world was around $67,000, and this Thursday it reached $82,413, which represents a growth of more than 20%. He bitcoin has more than doubled from its yearly low of $38,505.
With today, bitcoin accumulates seven sessions on the rise and successive all-time highsdriven by the return to the White House of Donald Trump, a great defender of this type of digital assets.
During the election campaign, Trump promised to make the United States the planetary capital of cryptocurrenciescreate a strategic bitcoin reserve and appoint regulators who would bet on digital assets.
“Bitcoin’s momentum thanks to Trump is in good health (…) and with Republicans about to take the House of Representatives, it seems that crypto people are betting on digital currency deregulation“said Matt Simpson of City Index.
The cryptocurrency industry spent more than $119 million on support congressional candidates favorable to the sectormany of whom won their elections.
Likewise, another of the factors that have boosted the rise of the crypto asset was the authorization at the beginning of the year of the launch of ETFs or bitcoin spot exchange-traded funds by the United States Securities and Exchange Commission (SEC), after having rejected more than twenty applications for cash bitcoin funds in previous years.
Despite this decision, the president of the US markets regulator, Gary Genslerdid not hesitate then to warn that it still did not support bitcoin, reiterating the need for investors to be cautious in the face of the countless risks associated with the cryptocurrency.
Now, cryptocurrency investors hope for an end to the increased surveillance of these assets by the chairman of the SEC, whom Trump has said he will fire.
“We believe that a significant portion of the institutional market reduced risk exposure in the run-up to the election and is now re-entering following Trump’s victory, creating significant purchasing pressure; This is likely to continue for some time,” he told Bloomberg the founder of the cryptocurrency investment firm DACM, Richard Galvin.
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