A week after the US presidential election, bitcoin price approaches $90,000
Báo Dân trí•12/11/2024
(Dan Tri) - Donald Trump's recent victory in the US presidential election has had a major impact on the cryptocurrency market and helped bitcoin approach the record high of $90,000.
A week after the US presidential election, the bitcoin price rally shows no signs of slowing down. Bitcoin surpassed $82,000 and headed straight to $84,000 in just one hour, then set new records overnight. At around 6:25 a.m. today (Vietnam time), bitcoin surpassed $89,517, up more than 11% in 24 hours. The market capitalization recorded more than $1,770 billion, helping bitcoin surpass silver to become the 8th largest asset in the world. Cryptocurrencies have exploded since Donald Trump's victory, leading investors to predict a more friendly approach to digital assets during his presidency. Bitcoin price suddenly increased sharply in the past 24 hours (Photo: Binance). The cryptocurrency's rally comes amid market excitement over Trump's victory in last week's presidential election, Susannah Streeter, head of currencies and markets at investment platform Hargreaves Lansdown, said. "Trump's all-in commitment to crypto has taken bitcoin to a new level," she told CNBC . "He has completely changed his stance, turning pro-crypto and pledging to make the US the world's crypto hub. Bitcoin investors are betting on a more relaxed regulatory environment and the US government's expectation that it will create a strategic reserve of bitcoin, which will increase demand," she added. Citi analysts believe that Donald Trump could establish a clear legal framework for cryptocurrencies and the US could become the crypto hub, as Trump claimed in his election speech. Trump's victory has attracted about $1.38 billion in investment into crypto-related funds, with bitcoin accounting for about 60% of the market's turnover. Trump has also pledged to oust Securities and Exchange Commission (SEC) Chairman Gary Gensler. Gensler has taken a hardline approach to the cryptocurrency market and has pursued numerous lawsuits against companies in the industry. In addition, Eric Trump, Trump's son, has Trump, is also scheduled to speak at a conference in Abu Dhabi, UAE next month that will focus on cryptocurrencies. All of these factors are creating optimism for investors as they pour money into bitcoin. Shares of companies that own a lot of bitcoin have also risen sharply. MicroStrategy, a Nasdaq-listed software company with the largest corporate bitcoin holdings, also rose 25% and closed on November 11 at an all-time high of $340.
Comment (0)