Bitcoin, the most used and best-known cryptocurrency on the market, is heading for its fifth consecutive session of gains and is heading towards $73,000. It is therefore approaching its all-time highs. less than a week before the presidential elections in the United States.
Bitcoin reached the highest level in its history last March. That’s when it was above $73,800. Now he is one step away from that level, after having appreciated by more than 37% in less than two months. Since the start of the financial year, The cumulative increase exceeds 70%.
Thanks to this advancement, the most important cryptocurrency in the world exceeded $72,000, which had not happened since last April. The success of Bitcoin spot exchange-traded funds – which attracted more than $3.6 billion this month – and the possibility of Donald Trump returning to the White House explain this progress.
At the close of Tuesday’s session, bitcoin reached $73,563.59, closing in on the all-time high reached on March 14. when it hit 73,798 greenbacks.
However, as the day progressed on Wednesday, the cryptocurrency lost its strength. In this way, The digital asset was around $72,300 before the end of the trading day in Europe.
Analysts at eToro believe that cryptocurrency markets continue their rally as the US presidential election approaches. The same experts predicted that if bitcoin exceeds $69,000, it could reach a new all-time high, above $74,000.
Many analysts consider that the advantage represented by the Republican candidate, Donald Trump, eliminates Republican candidate, Kamala Harris, in bets that drive up the price of bitcoin and the rest of cryptocurrencies. It is not in vain that the former American president He supported digital assets for much of his campaign.
From bitcoin to dogecoin
The defense of bitcoin represents a change in attitude on the part of Donald Trump, who in the past has been very critical of cryptocurrencies. On the contrary, he came to promise that would make the United States the cryptocurrency capital of the world.
Trump also reiterated that he would ask Tesla founder and CEO Elon Musk – who is a major donor to his campaign – to lead the plan to cut government spending. The initiative was named as Ministry of Government Effectivenesswhose acronym, coincidence or not, is DOGE. That is to say the same ones with which he quotes cryptocurrency dogecoin.
Over the past few sessions, dogecoin has skyrocketed. In fact, the rise of crypto meme exceeds that of bitcoin: revalued by 45.6% in the month of October alone. 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.
Kamala Harris, for her part, adopted a more measured stance regarding cryptocurrencies, commit to supporting a regulatory framework for the industry. His position contrasts with the offensive against the sector undertaken by the current President of the United States, Joe Biden.
