Comment
Author: Admin | 2025-04-27
Also a bitcoin halving event in April 2024, which also increased interest and value. Leading up to the U.S. presidential election, bitcoin's valuation was around $68,000 in Oct. 2024. After the election, bitcoin has been on a bull-run, reaching new highs almost daily. On Nov. 13, 2024, bitcoin hit a new all-time high of over $90,000, providing a lofty market capitalization of approximately $1.8 trillion USD. Why is bitcoin going up? The Nov. 2024 surge in bitcoin's value can be attributed to several factors, each playing a crucial role in driving the cryptocurrency to new heights. However, the single biggest individual driver is the victory of President Trump in the U.S. general election on Nov. 4. Donald Trump's election victory has been a significant spark for bitcoin's price explosion. During the election campaign, at a bitcoin conference in Nashville, Tenn., Trump pledged to make the U.S. "the crypto capital of the planet." At the same event, Trump promised that if he was elected, he would appoint a cryptocurrency-friendly chairperson to the SEC. The idea under a Trump Administration is that there would be less regulation to limit cryptocurrency as well as more favorable policies put in place to support usage and adoption. As part of ensuring more cryptocurrency friendly policies are in place, Trump has also proposed creating a bitcoin and cryptocurrency presidential advisory council. The council will include individuals that are in favor of cryptocurrency. Going a step further, Trump has also stated that he would not allow the
Add Comment