The Bitcoin and the others cryptocurrencies continue the rally started over the weekend, after theattack on Donald Trumpwhich has fueled expectations of a re-election of the former American President for a second term. A mandate that is increasingly likely in the face of the uncertainties shown by his rival Biden and after the Republican convention in Milwaukee formally approved Donald Trump’s nomination for the White House, alongside him as vice-president James David Vancea former venture capitalist considered to be in favor of the rich and the financial markets, a man of modest origins who embodies the concept of the American Dream.
The tycoon, now flanked by a businessman who some consider his “clone”, has always been complicit with the digital asset sector and, therefore, his re-election would greatly benefit digital currencies, with less stringent rules than the current ones.
Bitcoin surpasses 64,000
The price of Bitcoin soared this morning, continuing the rally of the previous session, touching a high of $64,978, before settling at $63,505, up 1.6% from the day before. Bitcoin thus brought its one-week gain above 10%, while its performance since the beginning of the year marks +50%.
Along with Bitcoin, other more well-known cryptocurrencies are also running, such as Ether which advances by 2.21% to 3,411 dollars, Solana which rises by 3.40% to 156 dollars and Binance which advances by 1.56% to 569 USD.
From ETFs to the Trump Era
The market for currencies or digital assets has seen a more intense development since, last year, the SEC overcame its reticence and finally approved the listing of ETFs, i.e. funds linked to the main crypto-currencies, such as Bitcoin, Ether and others. The questions from some important market operators had remained at a standstill for a long time, then the turning point with the start of the listing.
The market supervisory authorities (SEC) and judicial authorities (Departments of Justice) have then started an evaluation phase of this market, which requires a ad hoc regulationgiven also the scandals caused by some illustrious failures such as that of Mt Gox about ten years ago and the most recent one of FTX.
A regulation which, without a doubt, under the aegis of the most traditionalist Joe Biden would have been more stringent and severe. Trump, on the other hand, has always winked at this market which, as an entrepreneur and a free marketeer, he looks favorably upon. The entrepreneur, running for the 2024 Presidential Elections, recently reiterated that the future of Bitcoin should be “built in the United States and not abroad”.
Trump’s speech on crypto
Former US President Donald Trump is expected to speak at a Bitcoin conference in Nashville later this month. This is a very important signal for the market, which is now seriously betting on the election campaign and the clear support offered by the candidate for the White House, at such a significant moment in the campaign, after the attack in Pennsylvania.
Industry experts and traders are now speculating on the possible Trump’s endorsement and the knock-on effect this would have on the market and regulation of the sector.
