Bitcoin reached its highest level in two and a half months on Friday, boosted by the prospect of the election of Donald Trump, who calls himself a defender of cryptocurrencies.
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Around 20:50 GMT, the world’s first digital currency by its circulation amounts rose 2.50% against the greenback, up to $68,607. Earlier, It was exchanged for $68,983, a maximum since the end of July.
In recent days, bitcoin left the range between $60,000 and $66,000, where it had been for a month. “Cryptocurrency market activity has been sustained in October, which corresponds with a seasonal trend,” LMAX Digital analysts highlighted.
In addition to the seasonal factor, bitcoin benefited from a positive note from JPMorgan, which is betting on an appreciation in 2025 of digital currencies. Felix Hartmann, managing partner at investment firm Hartmann Capital, He highlighted that in five days of operationsthe net collection on the so-called Bitcoin ETFs (exchange-traded funds) reached $2.1 billion.
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Bitcoin
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ETFs, authorized in January by the SEC, the US financial markets regulatory agencyare a type of investment fund that allows you to take advantage of the evolution of Bitcoin prices without directly purchasing this cryptocurrency. According to the specialized site Blockworks, these funds now manage a little more than $50 billion in assets. For Hartmann, the recent rise in bitcoin is directly related to the growing advantage that Trump shows on betting platforms and prediction sites ahead of the presidential elections on November 5.
The American bookmaker Kalshi, for example, gives the Republican candidate a 56% chance of winning, based on bets on its website. At the beginning, a strong critic of cryptocurrencies that he himself described as “scam”, Trump has since changed his position, to the point of presenting himself as her defender. Trump, who recently launched his own platform to operate cryptocurrencies, thus marks his opposition to the approach of Joe Biden’s government, in favor of stricter regulation of the sector.
In recent days, the vice president and Democratic candidate, Kamala Harris, has tried to give some guarantees to reassure cryptocurrency holders. “Their commitment lacks consistency, but this gesture could also help support digital assets,” LMAX Digital analysts estimated the position of the Democratic candidate.
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AFP
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