A week after the US presidential election, Bitcoin has been setting new records. On the evening of November 13th, the world's largest cryptocurrency rose 2.8% and broke the $90,000 mark.

Many analysts believe its surge is due to investors' belief that President-elect Donald Trump will enact regulations that are more favorable to the cryptocurrency industry than the current administration.

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The cryptocurrency market became very active after Donald Trump was elected President of the United States. Photo: Cryptonews

The cryptocurrency market has witnessed unprecedented growth in Bitcoin in recent days. In November alone, the currency increased in value by 30%, and since the beginning of 2024, it has risen by 115%.

Trump's statements about cryptocurrency, including his promise to make the U.S. the "cryptocurrency capital of the planet" and his intention to replace U.S. Securities and Exchange Commission Chairman Gary Gensler, further bolstered investor confidence.

Bitcoin's market capitalization is currently approximately $1.735 trillion. Some analysts predict it could reach six figures in the next few months.

Expert Josh Giiibert predicts that with this upward trend, the price of Bitcoin could reach $100,000 in the near future. He notes that this new wave of investor interest will trigger a similar "frenzy" to the market in 2021.

Nevertheless, risks remain. If implemented, Trump's tariff policy would increase inflationary pressure, negatively impacting the cryptocurrency market.

Cryptocurrencies are seen as a "safe haven" that thrives in environments of low interest rates and abundant liquidity.

If inflation rises and leads to further interest rate hikes by the US Federal Reserve, the price of Bitcoin and other digital assets could fall.

(According to Cryptonews)