Thursday, 05 December 2024 04:54

Bitcoin surpasses $100,000 as rally fueled by Trump’s election victory gains momentum

Rate this item
(0 votes)

Bitcoin has surpassed the $100,000 mark, continuing its impressive rally spurred by Donald Trump's election win. The latest surge follows a key announcement from the President-elect, who signaled a more favorable regulatory environment for cryptocurrencies with his choice of Paul Atkins as the next chair of the Securities and Exchange Commission (SEC).

Trump revealed on Wednesday that he plans to nominate Atkins, a former SEC commissioner during George W. Bush's presidency, known for his stance against excessive market regulation. This move has been seen as a positive signal for the crypto industry, fueling investor optimism.

Since Trump’s victory on November 5, Bitcoin has soared to new heights, climbing from $69,374 on Election Day to a peak of $101,512 on Wednesday. This marks a dramatic rebound from the cryptocurrency’s plunge below $17,000 two years ago, following the collapse of crypto exchange FTX.

While Bitcoin’s rise has been meteoric, it remains uncertain how long the digital currency will stay above the $100,000 threshold. As with all assets in the volatile crypto market, its future trajectory is unpredictable. While some investors remain optimistic about further gains, others continue to caution about the inherent risks.

January 13, 2025

Fuel prices in Nigeria likely to surge as Brent crude rises above $81

Fuel prices in Nigeria are expected to climb further as Brent crude prices surged above…
January 11, 2025

Ohanaeze Ndigbo gets new President-General

John Azuta-Mbata, a former senator, has been elected as the new president-general of Ohanaeze Ndigbo,…
January 12, 2025

Why some animals appear to mourn their dead

Grief has long thought to be a human trait, but other animals – from killer…
January 04, 2025

Shy man cuts off 4 fingers instead of telling boss he wanted to quit his…

A 32-year-old Indian man admitted to cutting off four fingers on his left hand to…
January 13, 2025

Bandits attack Zamfara mosque, kidnap dozens of worshippers

Armed assailants launched an attack on a mosque in Birnin Yaro village, Zamfara state, kidnapping…
January 13, 2025

What to know after Day 1054 of Russia-Ukraine war

RUSSIAN PERSPECTIVE Ukraine won’t reclaim all Russian-held territories – Trump adviser It is not possible…
December 25, 2024

Stem cell therapy to correct heart failure in children could 'transform lives'

Renowned visionary English physician William Harvey wrote in 1651 about how our blood contains all…
January 08, 2025

NFF appoints new Super Eagles head coach

The Nigeria Football Federation (NFF) has appointed Éric Sékou Chelle as the new Head Coach…

NEWSSCROLL TEAM: 'Sina Kawonise: Publisher/Editor-in-Chief; Prof Wale Are Olaitan: Editorial Consultant; Femi Kawonise: Head, Production & Administration; Afolabi Ajibola: IT Manager;
Contact Us: [email protected] Tel/WhatsApp: +234 811 395 4049

Copyright © 2015 - 2025 NewsScroll. All rights reserved.