Trump’s Day One Crypto Plan Sends Bitcoin Higher as Experts See $102,000 Rise – DL News
- Bitcoin rose to $96,000 on Tuesday.
- Top crypto assets jumped 4% amid a report outlining venture capital giant Marc Andreessen’s goals in the new administration.
- A judge has ruled in favor of Coinbase against the SEC, another bullish sign for cryptocurrency prices.
- Optimism about crypto-friendly laws is growing under Trump.
Bitcoin is rising again and is trading at $96,000.
It was the price of the asset It only decreased for the last weekand fell to a low of $90,000 on Monday.
Bitcoin’s recent comeback comes amid news that incoming US President Donald Trump will enact favorable crypto policies immediately after his inauguration on January 20.
According to The Washington PostSources close to the new Trump administration say the president-elect will do so problem Executive orders related to cryptocurrencies upon taking office.
“It is expected that these alleged orders will be addressed.”Dump banking“And vice versa Controversial SAB 121 policy Restricting banks from serving crypto companies.
Cryptocurrency billionaire and founder of Galaxy Digital Last year Mike Novogratz identified SAB 121 As one of Joe Biden-era policies that will be quickly repealed under Trump.
the The Washington Post Reportedly, Trump’s desire to approve a crypto legislative strategy early in his presidency comes at the urging of a group of Silicon Valley moguls, including Marc Andreessen, general partner at venture capital giant Andreessen Horowitz.
Bitcoin and cryptocurrency prices responded positively to news of the emerging alliance.
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Coinbase
The bullish narrative was reinforced by A Appropriate judicial ruling for Coinbase against the SEC on the same day The Washington Post condition.
The price was halted due to skeptics’ uncertainty about the Trump administration’s ability to pass legislation in the first days of his term.
Also affecting cryptocurrency prices: signs of a strong US economy, dampening optimism that the Federal Reserve will cut interest rates further.
Low interest rates tend to incentivize investment in riskier assets including cryptocurrencies.
These fears she has Pushing the prices of Bitcoin and cryptocurrencies down Since mid-December.
Price forecast
However, analysts say Bitcoin is still poised for gains.
“A lower-than-expected inflation reading could send Bitcoin higher” as the Federal Reserve considers the impact on inflation, cryptocurrency research firm 10x Research said in a report.
Arthur Azizov, CEO of cryptocurrency payment service provider B2BInPay, has a more optimistic view.
“Bitcoin could reach $100,000 to $102,000 next month,” Azizov said. DL News.
Crypto market drivers
- Bitcoin rose 4.4% in the past 24 hours to $96,531.
- Ethereum price rose 4.6% over the same period to reach $3,199.
What we read
Osato Afan Nomayo He is our DeFi correspondent based in Nigeria. It covers DeFi and technology. Got a tip? Please contact him at osato@dlnews.com.
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