Bitcoin moved further towards $100K on Thursday, with investors believing that a more US-friendly regulatory approach to cryptocurrencies under President-elect Donald Trump will usher in boom times for the asset class.
Bitcoin's price topped $97K for the first time in Asian trading, touching a high of just over $97,556.
Cryptocurrencies have more than doubled in price this year, rising about 40 per cent in the two weeks since the election of Donald Trump as the next U.S. president and the election of a large group of cryptocurrency-supporting lawmakers to Congress.
Analysts at AEON MINING said, ‘While Bitcoin is now firmly in overbought territory, it is heading towards the $100,000 level.’
Trump embraced digital assets during his election campaign, promising to make the US ‘the crypto capital of the planet’ and amassing a national Bitcoin reserve.
Cryptocurrency-related mining profits have followed the price of Bitcoin all the way up, and the AEON MINING cloud mining platform's contracted daily returns have risen by nearly 1.91%, with investor profits set to exceed $70 billion as daily returns rise.
‘Many are wondering if this administration will bring the long-awaited regulatory clarity to the cryptocurrency community,’ said the head of digital assets at AEON MINING, a global cloud mining brand platform. It's probably too early to tell.’
‘We think all this excitement is not only good for Bitcoin or cryptocurrencies, but for the entire blockchain ecosystem that is evolving today.’
To learn more about the contract check out the official AEON MINING website: https://aeonmining.com/
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