Cryptocurrency

Donald Trump

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-reaches-new-heights-as-trump-signals-support-for-cryptocurrency/" data-wpel-link="internal">Bitcoin Reaches New Heights as Trump Signals Support for Cryptocurrency</a> 
Bitcoin (BTC) has set another historic high. The world’s largest <a href="https://en.coin-turk.com/usdc-discontinues-support-on-tron-blockchain/" data-wpel-link="internal">cryptocurrency</a> reached a new record of $106,648 during the night. Statements from Donald Trump following the presidential election and overall positive market expectations accelerated this rise. 
<h2 style="text-align: justify" id="strong-trump-s-strategic-reserve-remarks-make-an-impact-strong">Trump’s Strategic Reserve Remarks Make an Impact</h2> 
One of the most notable developments contributing to Bitcoin’s record surge was Trump’s comments made over the weekend. In response to a journalist’s question about whether he was considering creating a strategic reserve for Bitcoin, Trump replied, “Yes, I think we will.” This statement led to expectations that the new president of the United States might take concrete steps towards cryptocurrency initiatives. American media suggests that one of Trump’s first actions in the White House will be to implement this reserve. 
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The idea of a strategic reserve is seen as a significant support component for Bitcoin’s future. Consequently, following this announcement, a large buying wave initiated in the <a href="https://en.coin-turk.com/altcoin-on-the-binance-increased-by-100-percent-now-at-the-critical-threshold/" data-wpel-link="internal">cryptocurrency market</a>. Market participants interpreted this development as a signal that Bitcoin could become as reliable as traditional financial instruments. 
<h2 style="text-align: justify" id="strong-markets-remain-alert-ahead-of-fed-decision-strong">Markets Remain Alert Ahead of Fed Decision</h2> 
Additionally, another factor supporting Bitcoin’s price rise is the Fed interest rate decision expected this week. The Federal Reserve is anticipated to announce a 25 basis point rate cut on Wednesday. According to the CME Fed Watch Tool, the probability of this cut has been priced in at over 97%. The Fed has already cut rates by a total of 75 basis points since the beginning of the year, leading to expectations of new liquidity flowing into the markets. 
This expectation presents another reason for investors to consider <a href="https://en.coin-turk.com/three-altcoins-with-potential-to-reach-10-billion-market-value-by-2024/" data-wpel-link="internal">cryptocurrencies</a>. As interest rates decrease, the attractiveness of the US dollar diminishes, increasing demand for alternative investment vehicles. Bitcoin’s recent surge is strongly influenced by this overall economic trend. 
As of the time of writing, Bitcoin is trading at around $104,700. The markets continue to fluctuate under the influence of Trump’s administration and the Fed’s policies. 
The post <a href="https://en.coin-turk.com/bitcoin-reaches-new-heights-as-trump-signals-support-for-cryptocurrency/" data-wpel-link="internal">Bitcoin Reaches New Heights as Trump Signals Support for Cryptocurrency</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Bitcoin Reaches New Heights as Trump Signals Support for Cryptocurrency

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