Bitcoin on Record Hunt: Triumph of Cryptocurrencies in the USA

The recent surge of Bitcoin seems unstoppable, as its price surpassed the impressive mark of 98,000 US dollars for the first time. Since the recent US presidential election, the most popular cryptocurrency has repeatedly hit new record highs, with a spectacular increase of over 40 percent in just two weeks. Few in the investor circle seem restrained by the history of volatility or sober reasoning, as Bitcoin dances on the threshold of 100,000 US dollars. A key driver of this rally is the prospect of a "crypto-friendlier" governance under Donald Trump, who has transformed from a skeptic to a supporter of digital currencies. His promise to make the USA the "crypto capital of the world" and to create a strategic Bitcoin reserve has fueled the industry's hopes for regulatory relief. Despite the euphoria, crypto markets remain an exciting yet unpredictable place. While many market participants look optimistically to the future, there are also cautionary voices pointing out the risks. The space around cryptocurrencies, including Ethereum, Tether, and Dogecoin, has significantly expanded in recent years, yet all cryptocurrencies share an inherent price fluctuation closely linked to overall economic conditions. The initial spark for Bitcoin's recent successes lies in the US election. Trump's engagement in the crypto scene, including the founding of World Liberty Financial, has raised hopes for legislative tailwinds. With the promise to reform the Securities and Exchange Commission (SEC) meetings and dismiss its chairman, Gary Gensler, known for his restrictive stance, the regulatory landscape for digital currencies could be fundamentally transformed. Another factor that cannot be ignored is the spot Bitcoin ETFs, which were already approved by US regulators earlier this year and are magnetically attracting investors.