Crypto Market in Profit Mode After Victory of Donald Trump in US, Bitcoin Makes New High of More than USD 76,000, Ether Also in Green

There is a boom in the crypto market after the victory of Donald Trump in the presidential election in America. Bitcoin, the largest cryptocurrency in terms of market value, has created a new high level on Friday. The price of Bitcoin on international exchanges was up more than two percent at around $76,029. It was trading at around $76,875 on Indian exchanges.

second largest cryptocurrency There was a profit of about 2.47 percent in Ether. Its price on international exchanges was around $2,910 and on Indian exchanges it was around $2,940. Apart from this, the prices of Cardano, Solana, Monero and Stellar have increased. In the last one day, the market capitalization of crypto increased by about 1.35 percent to about $ 2.15 trillion.

The markets desk of crypto app CoinSwitch told Gadgets360, “The bulls continue to dominate the crypto market. There is a possibility of better policy being made regarding this segment in America. The Federal Reserve has also decided to reduce the interest rate by 0.25 percent. Since then, Ether has shown some strength and has crossed $3,000 as an important resistance. After this the target for Ether will be $4,000. However, Vishal Sacheendran, Head of Regional Markets at Binance, one of the major crypto exchanges, has advised investors to be cautious about the volatility in the short-term.

Earlier, Trump had also called cryptocurrencies a scam. After this, after contesting the elections again for the post of President, he started supporting digital assets. He also promised to make America the crypto capital of the world. Trump had indicated not to make strict regulations for this segment and to create a reserve of Bitcoin. There are a large number of people investing in the crypto market in America. These investors are also expected to contribute to Trump’s victory. In September this year, Trump also started a cryptocurrency business. Trump, his family and associates launched World Liberty Financial. In the last few years, cases of crypto related scams have also increased. Making a policy for this segment can also reduce the cases of scams.