After falling to just over $86,000 in the morning, the digital currency surpassed the $93,000 mark for the first time in the afternoon. On the Bitstamp platform, Bitcoin was most recently quoted at just under $92,800.
Will the $100,000 mark soon fall?
“The $100,000 mark could fall soon,” wrote expert Timo Emden from Emden Research. The pace of the rally continues to be impressive and frightening at the same time. “Now the last market participants are counting on Donald Trump to act as a protector for Bitcoin and Co and actually put the praise he has already given out into practice,” the comment continued.
No limits for price fantasies
Trump was the favorite of a majority in the crypto community during the election campaign. He made negative comments about Bitcoin during his first presidency. Recently, however, he had actively courted the crypto community. At a major Bitcoin conference in Nashville, Trump promised to leave the crypto market largely unregulated and to provide cheap electricity for calculating new Bitcoin coins (“mining”).
“There currently seem to be few limits to price fantasies, which is currently causing investors to show a certain amount of panic at the end of the day,” Emden continued. The question arises every time whether, despite ambitious price heights, new buyers will step to the sidelines and drive the price up.