Bitcoin Surges Past $100,000 Amid Pro-Crypto Expectations under Trump Administration
Bitcoin surpassed $100,000 for the first time, achieving an all-time high of nearly $104,000. This increase of 7.62% in 24 hours reflects a rise of over 36% since Election Day, driven by pro-crypto reforms anticipated under President-elect Trump. Ether also gained, reaching $3,870. Trump’s appointment of Paul Atkins may signal a more crypto-friendly regulatory environment ahead, contrasting with previous policies.
On Wednesday evening, Bitcoin’s price surged past the $100,000 threshold for the first time, reaching an unprecedented high of nearly $104,000 before settling at approximately $103,100 before midnight. This marks a significant increase of 7.62% within a 24-hour period and a remarkable rise of over 36% since Election Day when the cryptocurrency was valued at around $75,600. The recent surge is primarily attributed to the anticipated pro-cryptocurrency policies of President-elect Donald Trump, who has stated his intention to promote digital assets in the United States.
The significant rise in Bitcoin’s valuation follows the recent election of Donald Trump, who has announced intentions to foster a supportive environment for cryptocurrency. Trump’s selection of Paul Atkins for chair of the Securities and Exchange Commission suggests a shift towards more lenient regulations regarding digital currencies, contrasting sharply with the previous administration’s stance. The crypto market has responded eagerly to these developments, particularly following relief over the potential departure of SEC Chair Gary Gensler, who had enacted strict measures against various crypto entities.
In conclusion, Bitcoin’s historic breach of the $100,000 mark highlights not only the cryptocurrency’s impressive growth trajectory but also the influential role of political change in shaping market dynamics. As President-elect Trump positions himself as a pro-crypto leader, the implications for regulatory policies could very well propel further growth in the cryptocurrency market as stakeholders respond positively to the anticipated shift in governance.
Original Source: www.forbes.com
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