Bitcoin seems unstoppable. The world’s most important cryptocurrency was overtaken on Wednesday 93,000 dollars, marking new all-time highs. The digital asset has shattered levels in every session over the past week, since Donald Trump won the elections in the United States. The cumulative revaluation after the elections is 34%.
According to CoinMarket data accessed by EL ESPAÑOL – Invertia, bitcoin reached a new high at $93,402. Shortly after, the increase was reduced to 6.13%, bringing the price down to $92,352.5.
The latest push for Bitcoin coincided with the appointment of Elon Musk and Vivek Ramaswamy as senior officials of the newly formed Department of Government Effectiveness (DOGE).
In other words, they are the same ones with whom he cites cryptocurrency dogecoin. In fact, the rise of crypto meme exceeds that of bitcoin: It has appreciated 142% since Trump won the election. This Wednesday alone, it climbed 13.7%.
It should be remembered that Musk has been in favor of this on numerous occasions. token and that the company he runs accepts payment with when purchasing products in the Tesla store.
Congressional control
Additionally, bitcoin surpassed the $90,000 level just before The Republican Party obtains the majority in the House of Representatives and, therefore, it is up to Congress to assume responsibility.
According to Edison Research, the Republicans would have gained an additional seat, which would give them at least 216 seats, a short distance from the 218 needed to obtain a majority.
The red party the majority in the Senate is already assuredby winning 53 of the 100 seats, pending the conclusion of the ballot.
“With the presidency and Congress perhaps assured of a clear victory, initiatives proposed by Trump during his campaign to boost the industry cryptocurrency in the United States could encounter fewer obstacles and be easier to implement,” emphasize eToro analysts.
For his part, Eric Demuth, CEO and co-founder of Bitpanda, considers that “what is currently happening in the ecosystem cryptocurrency “This represents positive progress.”
“With the unequivocal election of Trump as the 47th President of the United States, a new direction has been set for the sector. The biggest source of uncertainty for the cryptocurrency market – the unclear and damaging actions of the United States Securities and Exchange Commission (SEC) – may soon be replaced by a regulation cryptocurrency transparent and progressive, living up to market expectations,” he adds.
In this sense, and as the co-founder of Bitpanda points out, Current SEC Chairman Gary Gensler is expected to be removed from office no later than February.. “This decision will likely expedite ongoing court cases and allow existing applications to be processed more quickly, making it easier to enter new applications,” says Demuth.
