Bitcoin started the day on Friday with slight gains. On the trading platform Bitstamp, the price of the best-known and most important cryptocurrency rose by about $450, or about half a percent, to $98,945 (94,000 euros).
This means that Bitcoin is still within striking distance of the $100,000 sound barrier. It hit another record high of nearly $99,400 on Friday evening before falling back slightly.
An increase of 40 percent since the beginning of November
The value of the cryptocurrency has soared since Donald Trump was elected US president in early November. Since then, the Bitcoin price has skyrocketed by more than 40 percent. Many investors associate Trump with the hope that regulations on cryptocurrencies will be relaxed.
Trump’s transition team has already begun discussing whether to create a White House post focused on digital asset policy. The industry is in favor of this position – the first of its kind in the US – having a direct line to the newly elected president.
Bitcoin dominates the broad cryptocurrency market. According to a list from provider Coinmarketcap.com, there are currently more than 10,000 so-called cryptocurrencies with a total value of around $3.3 trillion. At almost $2 trillion, Bitcoin is responsible for almost 60 percent of this. Number two is Ether with a share of approximately 12 percent.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
