Crypto rally: The price of a single bitcoin has hit a new record high of $98,367
Bitcoin has moved closer to $100,000 (£79,360).
Amid frenzied trading yesterday, a single bitcoin hit a new record above $99,000, pushing gains since Donald Trump won the US presidential election to 45 percent.
Bitcoin has been one of the big winners following his victory, in hopes that he will usher in crypto-friendly policies.
He has promised to make America “the crypto capital of the planet.”
Matt Britzman, analyst at Hargreaves Lansdown, said: ‘Just a few months ago $100,000 seemed like a distant dream, but now it feels almost inevitable as optimism increases.
“Trump’s expected return to the White House fuels hopes for a more crypto-friendly federal stance.”
Analysts at Standard Chartered believe Bitcoin could reach $200,000 (£158,710) next year.
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