Bitcoin All Time High: There has been a boom in the crypto market since the victory of Donald Trump. As a result, Bitcoin continues to make new highs. Today again reached a new record high of $94002.87. At the time of writing it was trading up 1.03 percent at $92,671.11.
According to experts, Donald Trump's social media company is going to buy crypto trading firm Bakkt. In such a situation, expectations have increased that Donald Trump will provide a favorable environment on the issue of crypto currency as soon as he assumes power. As a result, there has been a boom in the crypto currency market. The value of the cryptocurrency market has reached $3.09 trillion, which is more than the GDP of many developed countries.
More than double returns in Bitcoin
In the current calendar year 2024, investors in Bitcoin have more than doubled their returns from record highs. It rose 122.41% to an all-time high of $94002 from $42265.19 on December 31, 2023. The global geopolitical crisis, Trump's expected victory, have added to the excitement in the crypto market, with crypto experts pointing to Bitcoin crossing the $100,000 level soon.
Bitcoin will cost 1 lakh dollars
According to IG Markets analyst Tony Sycamore, Trump's announcement of this deal will cause a big surge in Bitcoin. Additionally, traders are increasingly investing in Bitcoin ETFs. Therefore, the possibility of Bitcoin crossing the $1 lakh level soon has increased. Donald Trump promised regulatory reforms with fewer restrictions for digital assets during his election campaign. Institutional investors are increasing investments in crypto in hopes of Trump taking action on the issue after assuming the presidency in January.
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