(NLDO) - Less than a week after Mr. Trump's victory, Bitcoin price continued to set a new peak, surpassing the threshold of 89,000 USD as the cryptocurrency market exploded.
According to Coin Metrics, Bitcoin price increased by more than 12%, reaching $89,174 and at one point touched $89,623 in the trading session last night, November 11 in the US. Ether, the second largest cryptocurrency, also increased by more than 7% to $3,371. Other cryptocurrencies such as Cardano and Dogecoin also recorded strong growth, increasing by 4.7% and 24%, respectively.
Bitcoin price continues to set new highs, surpassing the $89,000 threshold as the cryptocurrency market explodes.
Hargreaves Lansdown analyst Susannah Streeter said the cryptocurrency market was buoyed by “excitement” following Trump’s pledge to boost the industry. Trump’s promise to make the US the “cryptocurrency capital of the world ” and his strong support for the sector has created optimism among investors.
During his campaign, Trump made several specific commitments to the cryptocurrency industry, such as increasing Bitcoin mining in the United States and reducing strict regulations. This move has led investors to expect a more open regulatory environment, which has helped boost the value of major cryptocurrencies such as Bitcoin and Ethereum.
Data from TradingView shows that over the past week, Bitcoin has increased by more than $20,000 from a low of $66,700 on November 6.
According to Citi's strategy team, after the election, Bitcoin and Ethereum ETFs saw record inflows, totaling more than $2 billion in just two days. This is considered an important factor driving Bitcoin prices in the coming time. Analysts predict that if this growth momentum continues, Bitcoin could soon reach the $100,000 mark by the end of this year.
Meanwhile, major tech stocks such as Apple, NVIDIA, Amazon and Microsoft have shown signs of underperformance, even falling in recent trading sessions. This suggests that money is likely shifting from tech stocks to cryptocurrencies and digital assets as investors expect Trump’s new policies to create a favorable environment for the industry.
Source: https://nld.com.vn/bitcoin-tiep-tuc-vuot-moc-89000-usd-loi-hua-hen-cua-ong-trump-196241112074917492.htm
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