Bitcoin, the most used cryptocurrency, set a new historical record this Thursday, close to 98,000 dollars (93,000 euros), and the market hopes that the president-elect of the United States will apply less restrictive legislation.
The largest cryptocurrency by capitalization reached a new high of $97,892 (€92,906.9) around 6:30 a.m. (Lisbon time), according to data from the Bloomberg agency.
Since Trump’s presidential victory on November 5, this cryptocurrency has appreciated more than 35%.
“Bitcoin is on track to reach a phenomenal valuation of $100,000 [95 mil euros]driven by growing confidence that the Trump administration will usher in a pro-crypto era, and speculators are rallying behind this narrative, fueling the market frenzy, Stephen Innes, an analyst at consultancy SPI Asset Management, said today.
Among the measures expected by the cryptocurrency sector is the creation of a strategic reserve in the United States, composed mainly of bitcoins seized by the courts, something that could lead other countries to grant more legitimacy to this virtual currency.
To establish this, the North American Government would commit to no longer selling the bitcoins it already owns, seized mainly within the framework of judicial procedures.
The president-elect also promised to dramatically relax regulations on the digital currency sector, certifying that he would make the United States “the world capital of bitcoin and cryptocurrencies“.
In particular, he promised to replace Gary Gensler, the head of the US financial markets regulator, the SEC, who has been accused by cryptocurrency investors of taking a repressive approach to the sector.
Binance platform analysts We also attribute the increase to the recent launch of options trading for bitcoin funds.something that “marks a significant step towards greater integration of cryptocurrencies into traditional financial systems.”
The start of trading of this product on the Nasdaq technology index will increase liquidity in the cryptocurrency ecosystem, providing investors with additional hedging and speculation tools, Binance said.
Source: Observadora
