|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Bitcoin Price Reaches All-Time High of $80,000 Following Donald Trump’s Presidential Victory
Nov 11, 2024 at 04:37 am
As the Financial Times (FT) reported Sunday (Nov. 10), the digital currency reached that record as Trump — seen as ushering in an era of pro-cryptocurrency government
The price of bitcoin reached an all-time high of $80,000 Sunday (Nov. 10) as Trump — seen as ushering in an era of pro-cryptocurrency government — clinched victories in the swing states of Arizona and Nevada, according to a report by the Financial Times (FT).
The price of bitcoin climbed as much as 4.5% Sunday, the report said, citing data from LSEG, helping drive up other cryptocurrencies like ethereum and solana.
“Bitcoin, among the riskiest of risky assets, is having its moment in the sun,” said Eswar Prasad, economics professor at Cornell University. “The regulatory clouds are lifting. Financial conditions are becoming looser, and U.S. macroeconomic prospects continue looking bright.”
The report said that the crypto sector views Trump’s victory as a win for them, expecting the new administration to be far less hostile to the digital asset sector.
“We would look for several positives for the asset class early in the administration: regulatory changes … and changes at the Securities and Exchange Commission (SEC) that would lead to a softer regulatory stance on digital assets,” Geoff Kendrick, the head of digital assets research at Standard Chartered, said on Friday.
The $80,000 record follows bitcoin’s previous high of $75,000, reached last week in the immediate aftermath of Trump’s victory.
As we previously reported, the need for clear regulatory frameworks remains one of the most pressing issues facing the crypto world, and a Trump administration would likely see substantial shake-ups in the leadership of regulators such as the SEC.
“Such a shift could lead to relaxed standards around securities classifications and tokenized assets, enabling crypto businesses to operate with greater flexibility,” PYMNTS wrote recently.
Vice President-elect JD Vance was among the 60 senators who voted in May to overturn the SEC’s Staff Accounting Bulletin 121 (SAB 121), which governs how banks should handle customers’ crypto assets, requiring them to treat these assets as liabilities. President Biden ultimately vetoed the Senate’s move.
However, there are some risks to de-regulation, especially if the boundaries around securities laws are stretched too far. This approach could bring about increased volatility in the market, putting unsophisticated investors in danger if they invest in unvetted or underregulated digital assets.
“Crypto markets are inherently volatile, and the possibility of reduced oversight could amplify this characteristic,” PYMNTS wrote. “Deregulation may lead to significant speculative activity, potentially making the crypto market more susceptible to bubbles and crashes.”
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- 5 New Crypto Coins to Buy: JetBolt (JBOLT), Kaspa (KAS), Peanut the Squirrel (PNUT), Toncoin (TON), and Celestia (TIA)
- Nov 23, 2024 at 10:50 pm
- New crypto coins JetBolt (JBOLT), Kaspa (KAS), Peanut the Squirrel (PNUT), Toncoin (TON), and Celestia (TIA) are making headlines. Each of these cryptocurrencies offers groundbreaking technologies and fresh opportunities for crypto buyers.
-
- SHIB's Burn Rate Soars Close to 50,000% as Price Prints a Sturdy 10% Surge Overnight
- Nov 23, 2024 at 10:45 pm
- Data shared by the Shibburn tracking platform in a recently published Twitter post shows that in the past day the burn rate of the popular meme-inspired cryptocurrency has demonstrated a mind-blowing five-digit increase.
-
- Bitcoin and crypto prices have rocketed higher since the election of Donald Trump earlier this month—with traders betting on a fresh Trump bombshell.
- Nov 23, 2024 at 10:45 pm
- The bitcoin price has come within touching distance of $100,000 per bitcoin as analysts rush out a flood of hyper-bullish price predictions that could see bitcoin