Bitcoin has set the umpteenth record in recent weeks by standing above the $109,000 this morning. As always, the news is explained by the ‘Trump effect’, and this time the trigger for the market has been the inauguration that will take place throughout this afternoon (at 5:30 p.m., US time). Throughout 2024, this currency began its bullish run as the possibility of the magnate’s return to the White House approached. When this was confirmed in the elections on November 5, the cryptocurrency was above the barrier for the first time. 72,000 euros.
A month later, on December 5, it reached the symbolic goal of $100,000, an unprecedented mark that is explained by the expectation that Trump’s second term will rectify the policies of the Biden administration and opt for regulatory flexibility. crypto assets. Partly to please his investors, during the campaign the Republican promised to turn the United States into “the world capital of bitcoin and cryptocurrencies.”
Among these investors, of course, is Elon Musk, Trump’s brand new ‘strong man’ who is going to direct this future department of government efficiency and who has seen all his assets revalued since he entered the campaign like an elephant in a china shop. ; among them, bitcoin.
The market has already become accustomed to these record prices, but the truth is that when this currency burst onto the market back in 2008, no one expected it to take off so much. Trump himself in his first term (2017-2021) was very critical of it and called it a “scam.” From there he became its greatest defender, as has already been said, in part due to the presence of sector groups among its financiers. The one with the most media attention was Musk, who contributed more than 260 million dollars to the campaign.
The presidency that is now starting in the US poses an interesting scenario for investors interested in bitcoin, although it is not one that is without risks. It is a volatile currency – facts have shown it – and closely linked to political events. As the senior analyst of the trader eToro already explained to ABC, Javier MolinaTrump’s deregulatory promise will depend on collaboration with Congress and regulatory agencies, and legislative obstacles or changes in the stance of financial authorities could limit the scope of pro-crypto policies.
The positive note, Molina explained, is that if the increase in debt and the possible increase in inflation continues, as well as the trend of reducing interest rates in the United States, risk assets such as bitcoin could benefit even more. , since investors would look for alternatives to diversify their portfolios in a context of cheap money.
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