Trump re-election sees Bitcoin pass $82,000 mark

   Bitcoin and other digital currencies are reaching new heights thanks to optimism about the liberal policies surrounding Donald Trump. For months, Bitcoin hovered below $70,000, but according to Coinmarket it has surpassed $82,000. Last July Trump vowed to make the US the “crypto capital of the world” and the prospect of a low-regulation, pro-business administration seems to have been enough to garner a bump in momentum for digital currencies. Last weekend, $100 billion worth of Bitcoin was traded. Other coins also did well in recent days, especially Dogecoin and Shiba Inu. The bitcoin ETFs already saw the biggest inflow ever on Thursday at $1.37 billion. The question is how long that momentum will last. While Trump has promised all sorts of things, including the firing of SEC top executive Gary Gensler, who is no fan of Bitcoin, it remains to be seen whether much will come of it. In any case, Trump wants to form a commission that will “come up with rules by people who are fans of Bitcoin”. Concrete policy cannot be expected until after his inauguration at the earliest, but compared to issues around inflation and border security it’s unlikely to be among his highest priorities. In addition, bull markets have solid corrections of sometimes as much as 30%. Further rises to $100,000, predicted years ago, do not seem very realistic. Several leading analysts are warning of a hefty knockdown. Knowledge platform Bitcoin Alpha was equally cautious: “We would like to see evidence that the rise above $75,000 is not a short-term anomaly. Not an anomaly caused by the presidential election. And for that, we essentially want to see more of the same.” Read More: Bitcoin cryptocurrency Donald Trump