Synopsis
Bitcoin surged past $96,000, fueled by expectations that a crypto-friendly regulatory environment under the Biden administration will propel the digital currency to new heights. The cryptocurrency’s price has doubled this year, driven by a surge in institutional investment and growing mainstream acceptance.
Bitcoin’s march toward $100,000 made further ground on Thursday as investors bet a friendlier U.S. regulatory approach to cryptocurrencies under President-elect Donald Trump will unleash a boom era for the asset class.
Bitcoin prices topped $96,000 for the first time in Asia trade, touching a high just above $96,898.
The cryptocurrency’s price has more than doubled this year and is up about 40% in the two weeks since Trump was voted in as the next U.S. president and a slew of pro-crypto lawmakers were elected to Congress.
Crypto Tracker
TOP COIN SETSDeFi Tracker8.53% BuyCrypto Blue Chip – 57.31% BuySmart Contract Tracker3.98% BuyBTC 50 :: ETH 500.27% BuyAI Tracker-0.70% BuyTOP COINS (₹) Bitcoin8,175,368 (4.88%)BuySolana20,326 (3.13%)BuyEthereum264,814 (1.15%)BuyTether85 (0.08%)BuyBNB51,430 (-0.55%)Buy “While it’s now firmly into overbought territory, it is being drawn toward the $100k level,” said IG Markets analyst Tony Sycamore.
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.
View Details » Trump embraced digital assets during his campaign, promising to make the United States the “crypto capital of the planet” and to accumulate a national stockpile of bitcoin.
Stock Trading
Cryptocurrency Made Easy: Cryptocurrency Course
View Program
Stock Trading
Complete Guide to Stock Market Trading: From Basics to Advanced
View Program
Stock Trading
Technical Trading Made Easy: Online Certification Course
View Program
Stock Trading
Options Trading Made Easy: Options Trading Course
View Program
Stock Trading
Derivative Analytics Made Easy
View Program
Stock Trading
RSI Made Easy: RSI Trading Course
View Program
Stock Trading
ROC Made Easy: Master Course for ROC Stock Indicator
View Program
Stock Trading
Technical Analysis Demystified: A Complete Guide to Trading
View Program
Stock Trading
Algo Trading Made Easy
View Program
Stock Trading
Point & Figure Chart Mastery: A Comprehensive Trading Guide
View Program
Stock Trading
Candlesticks Made Easy: Candlestick Pattern Course
View Program
More than $4 billion has streamed into U.S. listed bitcoin exchange-traded funds since the election. This week, there was a strong debut for options on BlackRock’s ETF, with call options – bets on the price going up – more popular than puts.
Crypto-related stocks have been soaring along with the bitcoin price and shares in bitcoin miner MARA Holdings were up nearly 14% overnight, while MicroStrategy, a loss-making software company that has been buying bitcoin, rose 10% to take its market capitalisation beyond $100 billion.
“Many are wondering if this administration will bring the regulatory clarity the crypto community has been waiting for. It’s likely too soon to say,” said Will Peck, head of digital assets at WisdomTree, a global exchange-traded fund issuer.
“We see all of this excitement as bullish not only for bitcoin or crypto broadly, but the entire blockchain-enabled ecosystem that is growing today.”
