Bitcoin has reached a new record high ahead of Donald Trump's inauguration as the President of the U.S. The crypto soared to an all time high of approximately $109,241, driven by expectation of pro-crypto policies under the administration of Trump.
Bitcoin is now valued at $107,500.38 on coinmarketcap with more than 3% of increase in a day.
Trump has indicated support for digital assets, including proposals for a strategic national Bitcoin reserve, which has boosted market optimism.
The potential for the United States to become a crypto friendly hub under the leadership of Trump could drive global pro-crypto legislation and further boost the price of Bitcoin.
In spite of reaching new highs, there are concerns about potential "sell the news" scenarios following major political events, which could lead to a short term pullback in the price of Bitcoin. However, the overall trend remains bullish, with many analysts think significant price surges through 2025.
Not financial advice.
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