Since Donald Trump’s election on November 5, 2024, the cryptocurrency market has seen a significant surge, with Bitcoin hitting $100,000 in a matter of weeks. 100% since the beginning of 2024.
This momentum is attributed to several factors:
Trump’s pro-crypto stance: Formerly critical, Donald Trump has shifted to an active supporter of crypto assets, promising to make the United States the “crypto capital of the world.”
Increased institutional support: Companies like MicroStrategy have increased their investments in Bitcoin, and platforms like Bakkt have been acquired, increasing confidence in the market.
Favorable regulation: The prospect of a less restrictive Trump administration on crypto asset regulation has boosted investor enthusiasm.
This confluence of factors has propelled Bitcoin and other cryptocurrencies to record highs, reflecting renewed confidence in the sector.
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