Bitcoin recently crossed the $70,000 mark as market interest swells with the approach of the U.S. presidential election and upcoming financial reports from major cryptocurrency firms. This increase in price is also driven by investor expectations for future policies, as Donald Trump and Kamala Harris present distinct stances on cryptocurrency regulation.
If elected, Trump has indicated that his administration may adopt a more crypto-friendly approach, potentially benefiting Bitcoin and decentralized finance projects. By contrast, Harris is expected to enforce stricter regulatory oversight, focusing on consumer protection within the cryptocurrency space. This divide has created a polarized outlook among digital currency supporters, contributing to heightened market speculation and Bitcoin’s rally​.
In the last 24 hours alone, Bitcoin’s value has grown by approximately 2.5%, bringing its total market cap to $1.38 trillion. Overall, the cryptocurrency has seen a year-to-date growth of around 65%, far outpacing gold and the U.S. S&P 500 index, which have gained 32% and 24%, respectively.
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