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Bitcoin Bounces Above the $82K Mark

Written by:

Guest

Published on:

Nov/11/2024

Bitcoin, the most used cryptocurrency among online gambling sites, has shot above the $82,000 mark on Monday morning.

Other popular digital coins like Dogecoin and Ethereum also surged.

Monday's rise above $82,000 represents a new high point for Bitcoin.

President-Elect Donald Trump has embraced cryptocurrencies generally and pledged to make his country the crypto capital of the world.

"Bitcoin's Trump-pump is alive and well ... with Republicans on the cusp of taking the house to confirm a red wave in Congress, it seems the crypto crowd is betting on digital-currency deregulation," said Matt Simpson, senior market analyst at City Index, referring to Republican control of both houses.

While Simpson warned that Trump's near-term priorities will likely lie elsewhere, crypto investors see an end to stepped-up scrutiny under U.S. Securities and Exchange Commission Chair Gary Gensler, whom Trump said he would fire.

The cryptocurrency industry spent more than $119 million backing pro-crypto congressional candidates and has, by and large, succeeded.

By Aaron Goldstein

Aaron is our long time business reporter. He resides in Jersey City, New Jersey.

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