Bitcoin’s growth is based on expectations that cryptocurrencies will receive strong growth in a favorable regulatory environment following the election of Donald Trump as US President and cryptocurrency supporters in Congress.
Bitcoin reached a new all-time high, reaching $82,394 after the election of Donald Trump as the 47th President of the United States and cryptocurrency supporters in Congress. This is confirmed by data from CoinDesk on Monday, November 11.
On November 10, the price of Bitcoin for the first time in history updated its historical maximum, exceeding $80,000.
The capitalization of the cryptocurrency reached $1.62 trillion.
The world’s largest cryptocurrency has doubled in value from this year’s low of $38,505. At the same time, the second largest cryptocurrency by capitalization, Etherium, reached $3,181 per unit.
While according to Reuters, the growth of Bitcoin is based on expectations that cryptocurrencies will receive a strong development in a favorable regulatory environment following the election of Donald Trump as US President and cryptocurrency supporters in Congress.
We remind you that in January the United States took an important step towards legalizing Bitcoin. Industry heavyweights BlackRock, Invesco and Fidelity and smaller rivals including Valkyrie were allowed to start trading. After that, the price of the cryptocurrency began to rise rapidly.
Bitcoin reached its previous maximum in March 2024, when the price rose to $73,777.
Bitcoin also reportedly rose above $72,000 for the first time since June. This was facilitated by the influx of funds into special exchange-traded funds, as well as speculation about the possible outcome of the US election.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.