As Reuters notes, the recent victory of Donald Trump in the US presidential election had one of the most “long-lasting” impacts on the cryptocurrency market. Market participants expect that regulatory relaxations and legislative innovations will allow the United States to become a significant player on the global stage in the field of digital finance.
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Against this background, Bitcoin continues to update records day after day. If over the weekend it overcame the psychological mark of $80,000, then on Monday it managed to approach $82,000 per coin, and at the time of preparing the material for publication it was trading around $81,250.
Investors believe that Bitcoin will continue to rise. Some futures for this asset have already exceeded $90,000. And demand has grown to more than $2.8 billion on the popular derivatives exchange Deribit, one of the few cryptocurrency platforms offering futures trading.
According to Citi analysts, if the new US authorities form a normal legislative framework for the circulation of cryptocurrencies, then the country could really turn into a “cryptohub”, as Donald Trump stated in his election speeches. Moreover, his close ally in the last elections was Elon Musk, who has long been a supporter of the introduction of cryptocurrencies into economic processes.
Trump’s election victory has already attracted about $1.38 billion in investment into cryptocurrency-related funds. The most common of them continues to be Bitcoin, which accounts for about 60% of market turnover. Trump has promised to fire the head of the US Securities and Exchange Commission, Gary Gensler, who is an opponent of cryptocurrencies. Trump’s son Eric will also speak at a conference in Abu Dhabi next month, which will focus on cryptocurrencies. All this inspires optimism among investors investing their money in Bitcoin.