Boss The price of the Bitcoin cryptocurrency shows no signs of stopping. Bitcoin has surpassed $94,000 for the first time. In this way it has created an all-time record level. The social media company of Donald Trump, who won the US presidential election, is reportedly in talks to buy cryptocurrency trading company Bakkt. This has raised expectations that a cryptocurrency-friendly administration will arrive during Trump’s second term in the White House. Because of this, the prices of the leading cryptocurrency, Bitcoin, show no signs of stopping.
The price will more than double in 2024 itself.
Bitcoin is the largest cryptocurrency in the world. Its price has more than doubled in the year 2024 itself. In the last session it had reached a record level of $94,078. According to experts, Bitcoin prices are also rising due to the debut of the first Bitcoin ETF option. Mudrex CEO Edul Patel said: “BlackRock options saw a record trading volume of $1.9 billion on its first day, helping boost the price of Bitcoin.” However, profit booking after the spike has pushed Bitcoin towards the $92,000 level. Meanwhile, rising tensions between Ukraine and Russia have made investors cautious. There is now resistance at $94,600 for Bitcoin. While support is at $90,400.
Why are bitcoin prices rising?
Trump Media & Technology Group, which operates Truth Social, is in talks for a full stake acquisition of cryptocurrency trading company Bakkt, according to a Financial Times report. Bakkt is backed by Intercontinental Exchange, owner of the New York Stock Exchange. The cryptocurrency has surged since Trump’s victory in the 2024 US presidential election due to his promise of support for digital assets.
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