Bitcoin’s recent surge in price has captured significant attention, marking a new record high near $90,000 (€84,000). This surge is attributed to several factors:

Trump’s Election Victory: The election of Donald Trump as U.S. President has fueled optimism for more crypto-friendly regulations, boosting investor confidence in Bitcoin and other cryptocurrencies.
 
Market Dynamics: The anticipation of regulatory changes and the influx of institutional investments have contributed to Bitcoin’s price rally. Notably, BlackRock’s iShares Bitcoin Trust experienced substantial inflows following Trump’s victory.

Speculation and Predictions: Analysts speculate that ongoing economic policies could drive Bitcoin’s price even higher, with some predicting it could reach $1 million due to macroeconomic shifts.

Supply Shock Post-Halving: The April 2024 halving reduced Bitcoin’s block rewards, limiting new supply and causing a supply shock.

Published by truthisacommodity

Residing on the small island of Malta, I have developed a keen interest in foreign politics and science and in bringing truth to my audience by providing daily news! Email: info@whatnownews24.com View all posts by truthisacommodity