Bitcoin Crosses $96k For The First Time - What Is Fueling The Rally

Bitcoin's price is fast moving towards the $100,000 mark. currently standing at $96,898. The price of Bitcoin has nearly doubled this year, up 40 per cent, reported Reuters.

Why The Jump?

President-elect Donald Trump, along with the policy-makers in his government is known to have a pro-cryptocurrency policy. The 40 per cent jump in crypto price has happened across a span of two weeks, as reported by Reuters. 

There is anticipation among investors that there will be a jump in the price of crypto, which is why they are rushing to make purchases. Too much demand has pushed up the price.

What Did Trump Say Earlier?

During his campaign Trump had openly claimed that he wanted to make America the Crypto capital of the world.

History of Bitcoin Price

The price of Bitcoin has gone up from  $600-700 in 2014, to $17,760 in 2017
In March 2021, it reached over $60,000 in March 2021.In the last two weeks, since Trump's victory, it has risen from $72,000 to $96,898.

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