Bitcoin price breaks $80,000, Trump factor seen as a catalyst
Bitcoin price breaks $80,000, Trump factor seen as a catalystBitcoin's price continued its upward trend on November 11, surging past $81,000 after breaking through the $80,000 mark for the first time on November 10. According to Reuters, Bitcoin's price climbed to a record high of $81,464 at the opening of trading on November 11, before pulling back slightly but remaining above $80,000
Bitcoin price breaks $80,000, Trump factor seen as a catalyst
Bitcoin's price continued its upward trend on November 11, surging past $81,000 after breaking through the $80,000 mark for the first time on November 10. According to Reuters, Bitcoin's price climbed to a record high of $81,464 at the opening of trading on November 11, before pulling back slightly but remaining above $80,000.
Analysts believe that the victory of Republican Donald Trump in the US presidential election on November 6 is a positive factor driving Bitcoin's price up. As reported by AFP, Bitcoin's price reached a high of $75,000 on November 6 after the announcement of Trump's victory, breaking the previous record of $73,797.98 set in March this year.
While initially expressing negative views on cryptocurrencies during his first term as US President, Trump later shifted his stance and announced in September this year that he would be partnering with others to launch a cryptocurrency trading platform. This has led some analysts to anticipate that Bitcoin's price will continue its upward trajectory for a considerable period.
Bitcoin's price has surged significantly this year, driven by unprecedented regulatory easing from US authorities. According to CNN, Bitcoin's price has risen by approximately 80% this year.
Following the approval of the first Bitcoin spot exchange-traded fund (ETF) by the US Securities and Exchange Commission (SEC) in January, SEC Chairman Gary Gensler stated in a statement that this decision did not signify SEC endorsement or support of Bitcoin, and that investors should be cautious about the risks associated with Bitcoin and cryptocurrency-related products.
Tag: Bitcoin price breaks Trump factor seen as catalyst
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