Bitcoin has recently surged past $67,000, reaching new monthly highs and pushing its market cap to $1.33 trillion. Over the past year, it has delivered an impressive 142% increase, driven by significant developments and growing confidence in the crypto space. We are now at a time where adoption of crypto is rapidly scaling. Let’s dive into the key factors behind this price action and explore the events shaping its upward momentum.
As the U.S. heads toward its presidential elections, the crypto community is closely watching the outcome. The Republican candidate, Donald Trump has consistently expressed a pro-crypto position. His latest venture, “World Liberty Financial”, raised over $220 million in an hour through token sales, further cementing his influence in the space. With strong statements like “Making US the powerhouse of crypto” and promises to form a Bitcoin strategic reserve. With these, Trump’s victory could lead to a more favourable environment for crypto, raising hope for clearer regulations and mainstream adoption.
On the other hand, Democratic candidate Kamala Harris has also hinted at introducing a clear regulatory framework for cryptocurrencies. This stands in contrast to the somewhat ambiguous stance that has marked the U.S. crypto regulatory landscape in recent years.