Bitcoin Skyrockets to Historic Heights with Trump's Regulatory Winds at Its Back

24.11.2024 89 times read 0 Comments

Bitcoin Nears $100,000 Amidst Regulatory Optimism

The Los Angeles Times reports that Bitcoin has surged past the $99,000 mark for the first time in history. This remarkable increase of over 40% within two weeks comes on the heels of Donald Trump's presidential election victory. The crypto community anticipates a more favorable regulatory environment under Trump’s administration, potentially legitimizing digital currencies further without excessive regulation. However, experts caution investors about potential risks due to the inherent volatility of cryptocurrency.

Pi Network: Cryptocurrency Mining Made Easy

Forbes explores Pi Network as an innovative blockchain project aiming to democratize access to cryptocurrency mining via mobile devices. Unlike traditional cryptocurrencies like Bitcoin that require costly hardware for mining, Pi allows users to earn coins through a simple app interface by verifying their presence daily. With over 35 million members globally since its inception in 2019 by Stanford graduates, Pi is poised for significant development once it transitions from its current enclosed network phase into open trading environments.

Stock Market Dynamics with Crypto Influences

A Quartz article highlights recent market movements, where Bitcoin broke through $94,000 following news of President-elect Trump's media company potentially acquiring Bakkt—a prominent cryptocurrency platform. Additionally, new Bitcoin ETFs have started trading on Nasdaq, offering alternative investment avenues without direct ownership of cryptocurrencies—indicating growing mainstream acceptance and integration into financial markets despite economic uncertainties such as rising mortgage rates.

Critique on Inflation Fears Tied To Cryptocurrencies

An opinion piece from CryptoPotato challenges Peter Schiff's assertion linking increased Bitcoin investments with inflationary pressures on fiat-dependent economies like the USD. Contrary arguments suggest that BTC encourages savings, supporting central banks' efforts against deflation while simultaneously providing hedges amidst fluctuating monetary policies influenced by Federal Reserve actions post-2008 crisis recovery measures.

Ethereum ETF Inflows Signal Renewed Investor Interest

According to TradingView and NewsBTC coverage, Spot Ethereum ETFs recently ended six consecutive days without net inflows, culminating in a substantial influx of $91.21 million on November 22, primarily attributed to BlackRock iShares Trust alongside Fidelity and Bitwise offerings. This resurgence signals renewed investor interest, potentially boosting ETH's price trajectory upwards beyond the current $3,400 range.

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