The bitcoin exchange rate rose above $81 thousand for the first time on Sunday and continues to grow after Donald Trump’s victory in the US presidential election, MarketWatch reports.
Traders hope that Trump will ease regulations on cryptocurrencies, as he has publicly spoken in support of the development of this sector.
Bitcoin rose by 2.8% to $81,241 thousand during trading on Monday, according to Coindesk. Over the past week, the world’s most popular cryptocurrency has risen by 14%, with the increase over the past month exceeding 25%. Its rate has more than doubled in a year.
In addition to the victory of their candidate in the presidential election, the Republicans are approaching full control of Congress, the Financial Times notes.
Although the final result of the House of Representatives elections has not yet been confirmed, the Republicans are on the verge of taking control, which “will allow the new administration to implement supportive policies for digital assets shortly after Trump takes office,” according to Standard Chartered analysts.
“We expect positive changes early on in the administration,” including ‘changes at the Securities and Exchange Commission that will lead to a more lenient regulatory stance on digital assets,’ said Jeff Kendrick, head of digital asset research at Standard Chartered.
“Bitcoin, one of the riskiest assets, is experiencing a surge in popularity,” said Eswar Prasad, professor of economics at Cornell University. – “Regulatory clouds are dissipating. Financial conditions are becoming looser, and the macroeconomic outlook for the US continues to look bright.”
“America is going to go down the road to economic freedom,” said Brian Armstrong, CEO of Coinbase Global.
Ethereum, the second most popular cryptocurrency in the world, has risen by almost 20% over the past month and by 52% over the year. At the same time, it fell by 0.9% to $3,149 thousand during trading on Monday, according to Kraken.
