Rising since the election of Donald Trump, the queen of cryptocurrencies passed the $80,000 threshold for the first time in its history this Sunday, November 10.
A new high for bitcoin. The queen of cryptocurrencies, which has continued to rise since the election of Donald Trump in the United States with the prospect of regulatory relaxation, exceeded $80,000 this Sunday, November 10, for the first time in its history.
The first digital currency by capitalization exceeded this threshold around 12:00 GMT to reach a high of 80,116 dollars, before falling slightly. It crossed the $75,000 mark on Thursday, surpassing its record from last March, which stood at $73,797.98.
BFM Crypto, the Club: A French trader wins $49M following his bet on Trump – 07/11
Record levels which cannot be explained solely by Donald Trump's victory in the United States, but by a favorable environment since the start of the year.
However, by posing as the champion of cryptocurrencies, the ex-businessman was able to take the opposite view of the Biden government, considered to be in favor of strict regulation of a controversial sector which largely escapes the control of institutions.
Around $100,000?
“There will be significant investments and the United States will have a strategic reserve of bitcoins,” Charles Morris, analyst at ByteTree, told AFP.
According to him, “countries skeptical of cryptocurrencies, such as the United Kingdom where bitcoin-backed ETFs are still banned, will think again.”
Same tone for Stéphane Ifrah, analyst at Coinhouse, for whom the American election will help give new impetus to bitcoin.
Until then, he stressed to AFP, “bitcoin was in a phase of congestion. It had accumulated an upside potential which was released by the American vote”.
What’s next? Other records, says Stéphane Ifrah, for whom the rise in prices will be confirmed in the coming days or even weeks.
“The next level for me is $100,000,” he says.
Memecoins are also taking off
Memecoins, highly volatile parodic digital currencies, are also experiencing a boost, like dogecoin promoted by billionaire Elon Musk, a fervent supporter of Donald Trump.
“The chances of bitcoin and cryptocurrencies becoming a much larger asset class have increased significantly,” assures Charles Morris.
