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Bitcoin Nears $100,000 Amid Trump’s Crypto Agenda
TOPICSTags: Bitcoin, Crypto, Ethereum, Trump, US election
Investors Continue to Show Confidence in the Crypto Market, Particularly Bitcoin
On Thursday, Bitcoin reached an all-time high of $99,120, before pulling back slightly to close at $98,450, reflecting a daily increase of 4.32%. This year, Bitcoin has more than doubled in value, and in the two weeks following Donald Trump’s election as the U.S. president, it has climbed approximately 40%. This surge also coincided with the election of pro-crypto lawmakers to Congress.
(Bitcoin Daily Price Chart, Source: Trading View)
(Bitcoin Price Chart Pre- and Post-Election, Source: CoinGecko)
This remarkable price jump is primarily attributed to Trump’s election as president, which has fuelled optimism that his administration will create a crypto-friendly regulatory environment.
During his campaign, Trump showed strong support for digital currencies, pledging to make the U.S. the “crypto capital of the world” and to build a national Bitcoin reserve. Many crypto investors are hopeful that his leadership will signal the end of increased regulatory scrutiny under U.S. Securities and Exchange Commission Chairman Gary Gensler, a position Trump has suggested he will replace.
Moreover, in September, Trump introduced a new cryptocurrency business called World Liberty Financial. While specifics about the venture remain scarce, investors interpret his personal involvement in the sector as a positive indicator.
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