Magic mark Trump sends Bitcoin climbing towards all-time high
Bitcoin is moving back towards its all-time high. At midday on Tuesday, the Bitcoin price was trading at a good 71,500 US dollars. The largest cryptocurrency reached its previous high in March 2024.
29.10.2024, 14:11
29.10.2024, 14:38
SDA
Market observers explain the recent price gains with the upcoming presidential election in the US, in which Donald Trump could win as the crypto-friendly candidate. One week before the election, there are positive poll results for Trump and the Republicans, said James Butterfill, head of research at Coinshares.
Trump is considered the favorite of a majority of the crypto community, although he had made negative comments about Bitcoin during his presidency. Most recently, however, the former US president actively courted the crypto community. During the election campaign, he accepted donations in various cryptocurrencies such as Bitcoin, Ether, Dogecoin and Solana.
Kamala Harris repositions herself
At a major Bitcoin conference in Nashville, Trump promised to leave the crypto market largely unregulated and to provide cheap electricity for calculating new Bitcoin coins ("mining").
The Biden administration, on the other hand, is viewed as hostile by a number of players in the crypto community. However, Vice President Kamala Harris has attempted to distance herself from the traditionally crypto-sceptical position of the Democratic Party and position herself as a moderate crypto supporter.
