look news india
Bitcoin, the world’s largest cryptocurrency, broke the US$100,000 barrier for the first time, reaching an all-time high on December 5. The next steps of United States President-elect Donald Trump show his support for the cryptocurrency sector.
“Expectations rose” against the backdrop of optimism that Trump’s next term will create a friendlier regulatory environment for cryptocurrencies, a Reuters report said. On December 4, Donald Trump nominated crypto proponent Paul Atkins as the next head of the US Securities and Exchange Commission (US SEC). It is being said that in this background the value of crypto will increase further.
According to CoinMarketCap data, Bitcoin is above US$103,000. By 8.55am the token had reached $103,047.71. The token has doubled in value in the year since Trump won the US election on November 5, rising 45 percent, Reuters reports.
Experts are saying that Bitcoin prices could reach $120,000 by Christmas. Importantly, Trump now has a stake in the cryptocurrency market, and this reassures investors that his support will continue.
We are going to make America the crypto capital. Trump had said that if we (America) do not do this, China will do it. Trump administration friend Elon Musk is also a big supporter of cryptocurrencies, having personally advocated for Dose Coin as the token of choice for social media platform X several times.
Shock to stock market investors; Sensex, Nifty 50 fell, while Sensex and Nifty, which were on the rise in the morning, are seen falling after some time. As soon as there is news of Bitcoin price rising, it has a negative impact on the stock market price.
This background raises doubts about what impact the value of the Indian stock market will have if the value of Bitcoin increases further.