Bitcoin reached a new all-time high of $77,020 two days after the US presidential elections, showcasing the significant impact of political changes on cryptocurrency prices.
Impact of Politics on Bitcoin Price
Bitcoin hit a new high of $77,020 shortly after Donald Trump's election victory and the election of several pro-crypto policymakers to Congress. With a market cap of $1.5 trillion, Bitcoin now ranks as the ninth most valuable asset globally, surpassing Meta by Mark Zuckerberg. BTC's year-to-date growth has exceeded 118%, with an increase of nearly 25% over the past 30 days.
Cryptocurrency Policy Development Plans
For the first time, cryptocurrency played a significant role in funding political action committees, leading to expectations of progressive digital asset regulation from Washington. Senator Cynthia Lummis proposed the creation of a strategic Bitcoin reserve in the US.
Bitcoin Price Predictions
Bitcoin ambassadors like Michael Saylor and the broader crypto community anticipate further price increases. Investors and experts mention targets of $100,000 by year's end and $200,000 by 2025.
The US elections and changes in cryptocurrency policy significantly affect Bitcoin's price, drawing great interest from investors. Predictions for Bitcoin's value remain optimistic, attracting substantial investments.
