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Cryptocurrency market review

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After the US presidential election results were announced, cryptocurrencies are actively strengthening and are currently continuing their positive dynamics. BTC is trading at 75000.00 ( 8.5%), ETH is at 2810.00 ( 13.8%), and USDT is around 1.0010 ( 0.08%). The SOL token has reached fourth place in terms of capitalization at ​​186.50 ( 14.3%), and BNB has dropped to fifth place at 597.00 ( 6.9%). The total market capitalization by the end of the week was 2.51T dollars, and the share of BTC on it increased to 59.8%.

During the election campaign, the new head of the White House, Donald Trump, promised to make the United States the crypto capital of the planet and BTC — the world’s superpower, to create a strategic BTC reserve and a Presidential Advisory Council on cryptocurrencies. In addition, he criticized the actions of the US Securities and Exchange Commission (SEC) and planned to immediately replace its chairman, Gary Gensler, with the regulator’s board member Mark Weed, who had previously called the current SEC policy a disaster for the entire industry. Experts note that it would take a long time to implement but the new government will strive for a more constructive dialogue with representatives of the cryptocurrency community. Against this background, during the vote count, the main assets’ quotes strengthened significantly, and BTC exceeded the historical high of 76000.00, and some experts expect that it can reach 100000.00 by the end of the year.

The change in traders’ sentiments is reflected in the dynamics of investments in digital exchange-traded funds. On Monday and Tuesday, when Donald Trump’s victory was in question, Bitcoin-ETF lost 0.6579M dollars. On Wednesday and Thursday, the inflow of investments amounted to 1.9957B dollars, and over the last two sessions, Ethereum-ETF capital investments reached 0.1320M dollars. In general, the market assesses the sector’s prospects quite optimistically, counting on the development of positive dynamics in the medium term.

The only obstacle to digital assets’ growth may be a change in the US Fed monetary policy. Analysts do not rule out that if the new administration implements plans to index taxes and increase duties on goods imported into the country, inflation in the American economy will begin to grow again and the regulator may abandon the “dovish” rhetoric and even increase the interest rate next year, supporting the dollar against alternative assets.

Thus, investor optimism is returning to the crypto market, and next week, most major digital assets may continue their upward momentum or consolidate.


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