Bitcoin continues gains amid optimism around Trump’s approach to cryptocurrencies
Date
11/21/2024 2:11:52 AM
(MENAFN) Bitcoin’s rally toward USD100,000 continued to gain momentum on Thursday, driven by expectations that the incoming US administration, led by President-elect Donald Trump, will implement a more favorable regulatory approach for the cryptocurrency sector. Many investors are optimistic that this shift in policy will help support the growth of Bitcoin and other digital currencies, further establishing them as legitimate financial assets.
During Asian trading hours, Bitcoin’s price surged beyond the USD96,000 mark, reaching USD96,898, setting a new milestone for the cryptocurrency. This sharp rise is a clear reflection of the growing interest from both institutional investors and retail buyers, who see Bitcoin as a promising asset in today’s financial landscape.
Bitcoin has more than doubled its value this year, with a remarkable 40 percent increase in the past two weeks since Trump’s election. This rapid growth highlights the increasing acceptance and adoption of Bitcoin, as well as the shift towards decentralized financial systems. The growing institutional interest in Bitcoin suggests that its value could continue to rise in the coming months.
With the continued momentum, Bitcoin is on track to reach the highly anticipated USD100,000 mark. Many believe that regulatory clarity and the support from the new US administration will be crucial factors in determining the cryptocurrency’s future. If these factors align, Bitcoin could see even more significant gains in the near future.
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