Bitcoin Breaks $100,000 as the Crypto Market Aims to Redefine Itself Under Trump
Bitcoin has broken through the 0.1 million dollar mark, is it about to become a "mainstream currency"? Analyst's quick review.
① The usa president-elect Trump nominated conservative lawyer Atkins as chairman of the SEC on Wednesday, causing bitcoin to rise sharply, breaking the 0.1 million dollar mark; ② Analysts generally believe that Atkins' appointment will push this global largest crypto closer to becoming "mainstream currency."
Express News | Bitcoin Hits $100,000 for the First Time
Trump has ignited the cryptocurrency market, and in November, the trading volume of digital coins has historically surpassed 10 trillion dollars.
According to data collected by CCData, the combined trading volume of cryptos doubled in November. Spot trading volume increased by 128%, reaching 3.43 trillion dollars, the second highest figure since May 2021; derivatives trading volume grew by 89%, reaching 6.99 trillion dollars, setting a new record.
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Crypto Trading Volume Surged to $10 Trillion for the First Time in November
Trump nominates crypto-friendly Paul Atkins as SEC chairman, bitcoin rises over a thousand dollars during trading.
After taking office, Atkins is expected to focus on reducing regulations and easing regulatory penalties. He is currently the CEO of the consulting firm Patomak Global Partners. The institution states that since 2017, Atkins has been 'serving as the Co-Chair of the Token Alliance, an advocacy organization in the cryptocurrency industry, dedicated to developing best practices for digital asset issuance and trading platforms.' Trump stated that Atkins recognizes that digital assets and other innovations are crucial to making the USA greater than ever before.
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A once-in-a-century bullish trend? Bank of America: A significant explosion in technology combined with regulatory easing, technology stocks may experience a "circuit-breaker style rise."
Bank of America stated that the valuation of technology stocks still has room for further expansion. Bank of America is selectively call on technology stocks, and data from the best-performing stocks over the past 30 years show that investors who long hold the 'right technology stocks' have achieved astonishing returns.
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