The price of the most famous cryptocurrency, bitcoin, returned above USD 100,000 today for the first time since February. Today’s announcement of a trade agreement between the United States and Britain contributed to its growth. This has raised hopes for an easing of global trade tensions, according to Bloomberg.
Bitcoin rises after Trump’s victory
According to the specialized website CoinDesk, the price rose to USD 101,382.47, and shortly after 6:00 p.m. CEST, bitcoin was trading at around USD 100,700. In the last 24 hours, it has gained almost four percent.
Bitcoin strengthened significantly after Donald Trump‘s victory in the US presidential election in November. During his campaign, Trump promised to create strategic reserves of bitcoin and support its domestic mining so that the United States would become a global center for this technology.
Bitcoin fluctuates according to market sentiment and Trump’s policies
On the day of Trump’s inauguration, January 20, the price of bitcoin climbed to a record high of more than USD 109,000. However, it later fell sharply, partly due to concerns about Trump’s tariff policy.
“Now that the United States seems to be more reasonable and is signing agreements with other countries, cryptocurrencies are on the rise again,” said Stéphane Ifrah, an analyst at Coinhouse, according to AFP. He added that investor interest in riskier assets is clearly returning.
Source: Reuters
