The Price of Bitcoin Reached a New Record Again on Thursday. The Cryptocurrency is Now Worth More than $ 124,000 (Approximately € 106,000). This is partly because us President Donald Trump Wants to Ease the Rules Surrounding Digital Currencies.
The Value of Bitcoin Rose to a Peak or $ 124,480 in Singapore. After that, The Currency Fell Back to Below $ 123,000.
Trump announced duration his election campaign that he would pursue a crypto-friendly policy. To this End, the Wants To Relax The Rules And Supervision of Digital Currencies.
For Example, The US Congress Recently Approved The First Legis Lation Regulating So-Called Stablecoins. These are digital currencies that are linked to a fixed value.
Stablecoins are stable currencies because they follow the value of traditional currencies, such as the dollar. The New Legislation Makes It Easier to use Crypto Technology in the Daily Financial World.
Since Trump was re-elected president, Bitcoin HAS Increased in Value by More than 30 percent. The Expectation That The US Central Bank Will Lower Interest Rates also plays a Role in September. In Addition, there is a Large Demand for the Currency from Institutional Investors, Such As Pension Funds.
Ether Cryptocurrency also Increases in Value
On the day Trump Became President, Bitcoin Reached A Value of More than $ 109,000. But Due to Trump’s Trade Conflicts, The Currency then Fell Sharply. When the President decided to temporarily suspending a number of imports a few months ago, the currency rose again.
Ether, the second largest cryptocurrency, has been increased in value by more than 40 percent this year. The Currency is approaching the record level from November 2021.