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A record! Bitcoin Breaks $95,000 on Trump Effect VIDEO

The cryptocurrency with the largest market capitalization crossed that threshold around 1:24 AM. GMT

Nov 21, 2024 06:12 158

A record! Bitcoin Breaks $95,000 on Trump Effect VIDEO  - 1

Bitcoin broke the $95,000 mark for the first time, still boosted by the "Trump effect", as the market awaits more flexible legislation and economic policies that would be favorable to him under the new American government, reported France Press, quoted by BTA.

The cryptocurrency with the largest market capitalization crossed that threshold around 01:24. GMT, setting a new high of $95,004.50 before trading at $94,907 a little later.

After Donald Trump's victory on November 5, the value of Bitcoin increased by about 35%.

After surpassing its March high, the digital currency rose above $80,000 on November 10, and topped $90,000 on November 13.

Bitcoin is on track to hit the phenomenal $100,000 level, buoyed by growing confidence that the Trump administration will usher in a good time for crypto-currencies, and that expectation is fueling market fever, an analyst at "SPI Asset" noted today Management" (SPI Asset Management) Stephen Innes.

The president-elect promised a number of measures, including a drastic easing of regulations on digital currencies, saying he would turn the US into the "world capital of bitcoin and cryptocurrencies,", AFP recalls.