Thu Nov 21 03:25:59 UTC 2024: ## Bitcoin Soars Past $95,000 on Trump’s Regulatory Hopes
**HONG KONG –** Bitcoin shattered its previous record, surging past $95,000 for the first time Thursday. The dramatic rise is largely attributed to market speculation that President-elect Donald Trump’s administration will implement policies favorable to cryptocurrencies.
The digital currency peaked at $95,004.50 during early Asian trading, with analysts predicting a swift approach to the $100,000 mark. Since Trump’s election victory earlier this month, Bitcoin has experienced a nearly 40% increase, fueled by a surge in trading activity.
Trump’s campaign promises, including his pledge to make the U.S. the global leader in Bitcoin and cryptocurrencies, have bolstered investor confidence. His proposed appointment of Elon Musk to oversee a government audit further contributed to the optimistic outlook among speculators.
Stephen Innes of SPI Asset Management commented that the rally reflects growing belief in a pro-crypto regulatory environment under the incoming Trump administration. This narrative, he added, is driving a speculative frenzy pushing Bitcoin towards unprecedented valuations.
First Piper 