Bitcoin Sees Strong Recovery As Pro Crypto Donald Trump Favourability Increases in US President Election

Ether’s price was up 4.11 percent to around $3,331 on international exchanges. According to Gadgets360’s crypto price tracker, Ether was trading at around $3,531. Avalanche, Solana, Ripple, Cardano, Polkadot, Chainlink, Polygon and Cronos were also up. In the past one day Crypto Market capitalization of was up 3.80 percent at around $2.29 trillion.

The markets desk of crypto app CoinSwitch told Gadgets360, “The assassination attempt on former US President Donald Trump has had a major impact on market sentiment. Trump’s chances of winning the election have increased significantly. Trump’s victory, who favors the crypto market, has made the sentiment in the crypto community positive.” Bolivia has lifted the ban on Bitcoin imposed almost a decade ago. Its aim is to balance the economy and modernize the payment systems.

Bolivia is the first country in Latin America to take steps in favor of crypto. However, its central bank has not given the status of legal currency to bitcoin or other cryptocurrencies. The Central Bank of Bolivia has also allowed banks to make crypto transactions. Banco Central de Bolivia said that it is withdrawing the ban imposed on payments from cryptocurrencies, including bitcoin payments. The debt in this country is expected to increase by more than $ 21 billion by 2029. Banco Central de Bolilvia has decided to allow banks to use acceptance electronic channels and provide the facility of crypto payments. However, the Central Bank of Bolivia has not recognized bitcoin or other cryptocurrencies as legal currency. Allowing crypto transactions can help it get more money through remittances as these transactions from abroad are not delayed and there is usually no charge on them. Bolivia is also trying to reduce dependence on the US dollar.