Cryptocurrency market –
Bitcoin exceeds $95,000 for the first time
Experts believe that the most important crypto is likely to continue its rise, driven by the favorable auspices of the future Trump administration.
Since Donald Trump’s victory on November 5, the value of bitcoin has increased by around 35%.
AFP
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Bitcoin crossed the $95,000 mark for the first time this Thursday, still carrying the “Trump effect”, with the market anticipating more flexible legislation under the future American administration.
The largest cryptocurrency by capitalization exceeded this level at 1:24 a.m. GMT (2:24 a.m. in Switzerland), reaching a new record at $95,004.50 (nearly 84,000 francs). Bitcoin then moderated its gains and was trading at $94,463 around 1:30 a.m. GMT.
Since Donald Trump’s victory on November 5, the value of bitcoin has increased by around 35%. After surpassing its record from last March, the digital currency rose above $80,000 on November 10 and then $90,000 on November 13.
“Bitcoin is on its way to a phenomenal valuation of $100,000, driven by growing confidence that the Trump administration will usher in a crypto-friendly era, and speculators are rallying behind this narrative, fueling the frenzy” market, observed Thursday Stephen Innes, analyst at SPI Asset Management.
The United States, “bitcoin capital of the world”
Among the measures expected from the cryptocurrency sector, that of a strategic reserve of bitcoins in the United States, mainly made up of tokens seized by the courts, and which could push other countries to grant more legitimacy to this virtual currency.
To constitute it, the American government would undertake to no longer sell the bitcoins already in its possession, mainly seized in the context of legal cases.
The president-elect also promised to drastically ease regulations on the digital currency sector, certifying that he would make the United States “the world capital of bitcoin and cryptocurrencies”.
In particular, he vowed to replace Gary Gensler, the boss of the policeman of American financial markets, the SEC, hated by a sector which criticizes him for a repressive approach.
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AFP
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