Bitcoin Crashes Through The $100,000 Barrier

PUBLISHED: Dec 05 2024 @ 05:39 | Comments (0) | More info about Fiona Craig

Bitcoin’s (COIN:BTCUSD) price rose over $100,000 for the first time as its recent bull run continued. The cryptocurrency has been boosted by Donald Trump’s victory in the recent U.S. election. It is currently at $102,717.

Trump supports cryptocurrency, and he has pledged to make the U.S. “the crypto capital of the planet.” Crypto enthusiasts have seen this as a sign that there will be a loosening of the regulatory stranglehold that has been holding cryptocurrency back; Trump has said that he will sack Gary Gensler, the current chair of the Securities and Exchange Commission, who has led the crackdown on the crypto industry.

The new milestone for Bitcoin was reached after Trump said he would nominate former SEC regulator Paul Atkins to run the Wall Street regulator.

Trump has also talked about creating a strategic bitcoin stockpile.

This has led to a renewed interest Bitcoin, and the price has been rising steadily since the result of the presidential election, when it was at $67,333 – a 52% increase.

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.