A few hours before the inauguration of the newly elected US President Donald Trump and his return to the White House, the Bitcoin exchange rate began to ride a roller coaster again and set a new record of over $109,000 for 1 BTC coin.
A few hours before the inauguration of the newly elected US President Donald Trump and his return to the White House, the Bitcoin exchange rate began to ride a roller coaster again and set a new record of over $109,000 for 1 BTC coin.
The largest cryptocurrency reached $109,333 on Binance during Asian trading on Monday, January 20. The day before, Trump mentioned Bitcoin in his speech, CoinTelegraph recalls.
«The stock market has skyrocketed since the election, and small business optimism has soared by a record 41 points to a 39-year high. Bitcoin is hitting one record high after another», — Trump said.
BTC has clawed back the losses it suffered earlier, falling to nearly $100,000 on Sunday from a high of over $102,000, when First Lady Melania Trump launched her own $MELANIA memecoin, diverting liquidity away from underlying assets.
Trump repeatedly expressed his support for cryptocurrencies during the election campaign. Promises to make the United States the «crypto capital of the world» and create a «strategic national Bitcoin reserve» fueled investor optimism.
«The progressive momentum has been further accelerated by the launch of the TRUMP and MELANIA memecoins, which have attracted more retail users, and the expectation that Trump will prioritize and reaffirm his commitment to the crypto industry,» said Ben El-Baz, Managing Director of HashKey Global.
Some experts predict that by the end of the year, the value of BTC could be between $185,000 and $250,000. Currently, BTC’s market capitalization has exceeded $2.1 trillion, making it the seventh-largest asset by this indicator. It is followed by Amazon ($2.375 trillion) and Alphabet ($2.4 trillion).
It was previously reported that Donald Trump’s «America First» strategy could affect the pool of cryptocurrencies that will be included in the US strategic reserve. According to anonymous sources, priority will not be given to Bitcoin or Ethereum, but to coins that are based in the US.
