On Wednesday, Bitcoin (BTC-USD) spiked to hit a new all-time high of $93,409 mainly driven by President-elect Trump’s victory on November 4. The crypto community is buoyed by what Trump promised during his re-election campaign rather than anything he’s
Trump's Pre-Election Crypto Promises Could Spur Bitcoin To A Multi-Trillion Asset
Summary
- Bitcoin surged to a new all-time high of $93,409, driven by President-elect Trump's promises of crypto-friendly regulations and making Bitcoin a reserve currency.
- Trump's victory has fuelled optimism in the crypto market, leading to significant gains in Bitcoin, Ethereum, and other altcoins.
- If Trump delivers his promises, Bitcoin could further stretch gains to $100,000 or even $110,000, making it a multi-trillion dollar asset.
- Risks include potential profit-taking and the possibility that Trump's promises were mere campaign tactics, which could lead to a significant pullback in Bitcoin's price.
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