Record Bitcoin Surpasses $82,000
Bitcoin continues its rise. After Donald Trump’s victory in the US presidential election, the cryptocurrency seems unstoppable, and on November 11, it rose to $82,000, setting another record.
Bitcoin is encouraged by the tycoon’s candid words, which expressed his general support for cryptocurrencies and which could bode well for more favorable legislation in the United States and a more lenient approach from the Securities and Exchange Commission (SEC).
And all this at a time when stock markets are particularly buoyant as investors anticipate tax cuts and less regulation under Trump. As the Edmond de Rothschild Company explains in its statement: “Donald Trump’s victory pushed stock indexes to new all-time records, with small-cap stocks clearly outperforming and hitting highs not seen since October 2021,” adding that many of the moves were “volatile, speculative, and sometimes off the fundamentals.”
Returning to cryptocurrencies, according to Bloomberg, several institutional investors are returning to the sector and, as Italian news agency ANSA highlights, the financial instrument ETF Blackrock, which replicates the performance of Bitcoin, has seen a net flow of $1.4 billion in recent days. Now awaiting consumer price data scheduled for December 13, which could determine possible further rate cuts at the next Federal Reserve meeting in December.
