$BTC

Bright prospects for BTC?

In this morning's price surge, Bitcoin reached a new peak near $103,600/BTC, before weakening to the current range of $102,000. However, in the past 24 hours, this cryptocurrency has still increased by more than 5.5%.

Since the beginning of the year, the price of Bitcoin has doubled and increased by 45% just in the last month following Donald Trump's victory.

This historic milestone for the cryptocurrency industry was achieved right after Mr. Trump announced he would nominate Paul Atkins - a former federal regulatory official currently advising financial and cryptocurrency companies - as the head of the U.S. Securities and Exchange Commission (SEC).

Bright prospects?

Since its launch in 2009, Bitcoin has faced many difficulties, especially after the collapse of the FTX exchange in November 2022. Analyst Knoblauch shared with The Washington Post that the recent price surge of Bitcoin was driven by a "positive sentiment" stemming from Donald Trump's victory in the election.

In fact, Mr. Trump's stance on the cryptocurrency industry contrasts sharply with that of his predecessor - who had taken many actions to crack down on major companies in the industry.

Participants in the cryptocurrency sector have reason to be optimistic about the industry's prospects in the future. During his campaign, Mr. Trump pledged to relax regulations governing the cryptocurrency industry, promising investors that he would make the U.S. the "cryptocurrency capital."