The growth of Bitcoin is based on expectations that cryptocurrencies will receive a strong development after the election of Donald Trump as US President and supporters of cryptocurrencies in Congress.
Bitcoin rose to a record high of more than $84,000 on Monday amid expectations that cryptocurrencies will continue to rise in a favorable regulatory environment following Donald Trump’s US election victory and the election of cryptocurrencies- friendly Congress candidate. This is confirmed by data from CoinDesk on Monday, November 11.
Bitcoin rose above $84,047, reaching another record value during the session. The cryptocurrency also broke records on November 6 and 10.
Trump, as part of his election campaign, expressed support for digital assets, promising to build the planet’s crypto capital.
According to Reuters, 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.
We remind you that in January the United States took an important step towards legalizing Bitcoin. Fund industry heavyweights BlackRock, Invesco and Fidelity have allowed smaller rivals including Valkyrie 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
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