2024-11-10 13:22:00
(London) Bitcoin exceeded $80,000 on Sunday for the first time in its history, boosted by the prospect of regulatory relaxation favorable to digital currencies which could be put in place with the return of Donald Trump to the White House .
Posted at 8:22 a.m.
The first digital currency by capitalization exceeded this threshold around 7 a.m. to reach a high of $80,116, before falling slightly.
It reached the $75,000 mark on Thursday, surpassing its record from last March.
Bitcoin is quoted continuously, including on Sundays.
Since the results of the American presidential election, its price has soared in unison with the dollar.
Donald Trump in fact committed during his electoral campaign to making the United States “the world capital of bitcoin and cryptocurrencies”.
By posing as the champion of cryptocurrencies, the ex-businessman took the opposite view of the Biden government, considered to be in favor of strict regulation of a controversial sector, which largely escapes the control of institutions.
According to him, “countries skeptical of cryptocurrencies, such as the United Kingdom where bitcoin-backed ETFs are still banned, will think again.”
Same tone for Stéphane Ifrah, analyst at Coinhouse, for whom the American election will help give new impetus to bitcoin.
What’s next? Other records, says Stéphane Ifrah, for whom the rise in prices will be confirmed in the coming days or weeks.
The next level for me is $100,000.
Stéphane Ifrah, analyst at Coinhouse
This trend is not just about bitcoins. Memecoins, for example, highly volatile parodic digital currencies, are also experiencing a boost, like dogecoin promoted by billionaire Elon Musk, a fervent supporter of Donald Trump.
“The chances of bitcoin and cryptocurrencies becoming a much larger asset class have increased significantly,” assures Charles Morris.
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**Interview with Cryptocurrency Expert Dr. Emily Martin**
**Editor:** Today, we’re discussing the recent surge in Bitcoin’s value, which has surpassed $80,000 for the first time. Joining us is Dr. Emily Martin, a cryptocurrency expert and economist. Thank you for being here, Dr. Martin.
**Dr. Martin:** Thank you for having me!
**Editor:** Bitcoin recently hit a new record of $80,116. What do you believe are the main factors driving this price increase?
**Dr. Martin:** The primary factor is the recent political climate in the U.S. Following the presidential election, investors are optimistic about potential regulatory relaxations, especially with Donald Trump’s return to the political forefront. His commitment to making the U.S. a hub for Bitcoin and cryptocurrencies has sparked renewed interest in digital currencies.
**Editor:** Exactly. There’s also the correlation between Bitcoin’s price and the dollar’s performance. Could you elaborate on that?
**Dr. Martin:** Certainly. Bitcoin has historically shown an inverse relationship with traditional currencies, but with the current dynamics, it seems that Bitcoin and the dollar are moving in tandem post-election. It’s possible that investors view Bitcoin as a stable asset in times of political and economic uncertainty, which may lead to increased buying activity.
**Editor:** You mentioned regulatory changes that might favor cryptocurrencies. How significant do you think these changes will be?
**Dr. Martin:** They could be monumental. Trump’s more relaxed stance compared to the Biden administration, which has leaned towards strict regulation, could create an environment where digital currencies can thrive. If regulations become more favorable, we may see increased institutional investment and wider adoption among the public.
**Editor:** What potential challenges do you foresee for Bitcoin in 2024?
**Dr. Martin:** While the opportunities are exciting, challenges remain. If there is a shift back to more stringent regulations or any sort of economic downturn, that could impact investor confidence. Additionally, market volatility is always a concern—Bitcoin’s price can fluctuate dramatically in short spans.
**Editor:** Fascinating insights, Dr. Martin. One last question—what advice would you give to potential Bitcoin investors right now?
**Dr. Martin:** I’d advise potential investors to stay informed and consider their risk tolerance. While the allure of high returns can be tempting, it’s important to approach Bitcoin and other cryptocurrencies with caution and to diversify one’s investment portfolio.
**Editor:** Thank you, Dr. Martin, for sharing your expertise on this exciting development in the cryptocurrency market.
**Dr. Martin:** My pleasure! Thank you for having me.