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Donald Trump is seen as a crypto supporter and this can be easily gauged from the sharp rise in Bitcoin prices after his election victory. Bitcoin is trading at $100,027 on Thursday, December 5, 2024. Bitcoin has crossed this figure for the first time. Cryptocurrencies have gained momentum following Trump’s victory and experts expect it to continue. Let us tell you that Donald Trump will take oath as President in January 2025.
bitcoin bullish trump connection
Now talking about what is the connection that after the victory of Donald Trump, Bitcoin seems to be running at rocket speed, then let us tell you that crypto traders are hopeful that the Trump administration can bring cryptocurrency friendly policies. Recently, a foreign report said that the US President’s social media company is preparing to buy crypto trading company Bact. Donald Trump is already considered crypto friendly and now the impact of his company’s plan is clearly visible on the crypto market as well.
The rise in the crypto market may continue
Bitcoin’s meteoric rise doesn’t seem to be stopping any time soon. Experts say that with Trump’s pro-crypto agenda and Atkins’ leadership, the crypto market can continue to flourish and widespread adoption of cryptocurrencies is likely. Mudrex CEO and co-founder Edul Patel says that this could push the price of Bitcoin to $120,000 in the coming weeks.
It is worth noting that recently global agency Jefferies also made a big prediction in a report released regarding Bitcoin. Christopher Wood, global head of Jefferies, said that Bitcoin’s momentum will not stop and it could reach $1.5 million. However, he did not rule out that its price would fluctuate according to market conditions. Budd also said that Bitcoin has gained momentum since Donald Trump’s victory, as he has shown his support for the crypto asset.
The most popular cryptocurrency is Bitcoin
Let us tell you that Bitcoin is the oldest and most popular cryptocurrency in the world. Every year it has won the trust of investors. No one has seen the creator of Bitcoin. But according to reports, this digital currency was created in the year 2008 and was released as open source software in the year 2009. The person or group who created Bitcoin is known as Satoshi Nakamoto. This digital currency is also used to exchange value for goods and services and this currency works on blockchain technology.