Bitcoin reaches record high: Trump’s election is a positive impetus for the crypto market

The US presidential election naturally had quite a big impact on global markets.

Financial markets, as the most sensitive ones, immediately responded to the situation. American indices soared—not so much due to Trump’s personality as to some certainty in terms of American economic policy.

Instead, bitcoin prices saw a rather sharp rise. Thus, in the seven days after the election, the CoinDesk 20 Index, which determines the price of bitcoin, rose by about 29%, resulting in the bitcoin price exceeding $87,000. Incidentally, there are predictions that bitcoin will reach $100,000.

However, not only the aforementioned markets reacted to the election. Gold and oil prices have fallen. The world anticipates the US withdrawal from the Russia-Ukraine conflict, as well as increased trade and economic tensions between the US and China and the US and the European Union, which also led to the weakening of the euro against the dollar.

In any case, the current market activity is just a first reaction, and some stability will come soon. Meanwhile, regarding the same bitcoin, it is clear that the era of cryptocurrency is coming. And Armenia should also pay attention to it. For the sake of objectivity, we should highlight the regulations proposed by the Central Bank, which experts have already assessed as a problematic approach. Nevertheless, a process is underway.