{"id":38342,"date":"2024-11-20T16:21:11","date_gmt":"2024-11-20T16:21:11","guid":{"rendered":"https:\/\/www.africa-press.net\/eritrea\/all-news\/crypto-market-hits-3t-as-trumps-win-boosts-confidence"},"modified":"2024-11-20T17:10:44","modified_gmt":"2024-11-20T17:10:44","slug":"crypto-market-hits-3t-as-trumps-win-boosts-confidence","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eritrea\/all-news\/crypto-market-hits-3t-as-trumps-win-boosts-confidence","title":{"rendered":"Crypto market hits $3T as Trump\u2019s win boosts confidence"},"content":{"rendered":"

Africa-Press – Eritrea. <\/strong><\/span>Cryptocurrency markets continue their bullish trend following President-elect Donald Trump\u2019s win in the November elections. His positive remarks about cryptocurrencies helped Bitcoin surge to over $93,000.<\/p>\n

Bitcoin was trading below $70,000 before the elections, but it spiked after Trump\u2019s win, with many altcoins also following suit. The total market capitalization of cryptocurrencies rose above $3 trillion.<\/p>\n

Reports that Trump Media and Technology Group is in talks with the cryptocurrency platform Bakkt for its acquisition further fueled market excitement, coupled with Trump\u2019s private meeting with Coinbase CEO Brian Armstrong. Expectations are rising that a pro-crypto figure will be nominated for the US Securities and Exchange Commission (SEC).<\/p>\n

Meanwhile, Bitcoin ETF options began trading on Tuesday on the Nasdaq, with approximately $2 billion in volume on its first day. Spot Bitcoin ETFs, approved earlier this year, have contributed to the growing institutional interest.<\/p>\n

The Crypto Fear and Greed Index, which measures investor sentiment, reached 90 out of 100 on Tuesday, signaling \u201cextreme greed.\u201d<\/p>\n

Trump\u2019s crypto-related meetings prove positive for entire ecosystem<\/b><\/p>\n

Bora Erdamar, lecturer of economics at Bahcesehir University in Istanbul, told Anadolu that the main factor behind the rise is that a US president is taking \u201cimportant and constructive\u201d steps to support the crypto sector.<\/p>\n

Erdamar said that Trump has expressed his support for Bitcoin mining and invited miners to the US, and that the SEC\u2019s cautious approach to cryptocurrencies is expected to change.<\/p>\n

Regarding Trump Media and Technology Group\u2019s efforts to acquire Bakkt, Erdamar noted that Trump\u2019s involvement in the crypto ecosystem through his subsidiaries, along with his meeting with Coinbase CEO Brian Armstrong, may signal that he will \u201clisten to the industry and make moves to address the needs of the ecosystem.\u201d<\/p>\n

Erdamar also pointed out that spot Bitcoin ETFs facilitate institutional investments, \u201callowing Bitcoin to be bought and sold not only at its current price but also at predetermined prices, and the institutionalization of Bitcoin will bring liquidity.\u201d<\/p>\n

He added that long-term investors have seen significant profits, but he warned that caution is needed due to market volatility.<\/p>\n

For More News And Analysis About Eritrea Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Eritrea. Cryptocurrency markets continue their bullish trend following President-elect Donald Trump\u2019s win in the November elections. His positive remarks about cryptocurrencies helped Bitcoin surge to over $93,000. Bitcoin was trading below $70,000 before the elections, but it spiked after Trump\u2019s win, with many altcoins also following suit. The total market capitalization of cryptocurrencies […]<\/p>\n","protected":false},"author":84,"featured_media":38341,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[306,5940,233,5832],"class_list":["post-38342","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-miscellaneous","tag-bitcoin","tag-crypto-markets","tag-eritrea","tag-trump"],"yoast_head":"\nCrypto market hits $3T as Trump\u2019s win boosts confidence - Eritrea<\/title>\n<meta name=\"description\" content=\"Cryptocurrency markets continue their bullish trend following President-elect Donald Trump\u2019s win in the November electio ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/eritrea\/all-news\/crypto-market-hits-3t-as-trumps-win-boosts-confidence\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto market hits $3T as Trump\u2019s win boosts confidence\" \/>\n<meta property=\"og:description\" content=\"Cryptocurrency markets continue their bullish trend following President-elect Donald Trump\u2019s win in the November electio ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/eritrea\/all-news\/crypto-market-hits-3t-as-trumps-win-boosts-confidence\" \/>\n<meta property=\"og:site_name\" content=\"Eritrea\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-20T16:21:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-20T17:10:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eritrea\/sites\/27\/2024\/11\/sm_1732109980.887891.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"864\" \/>\n\t<meta property=\"og:image:height\" content=\"486\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/crypto-market-hits-3t-as-trumps-win-boosts-confidence#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/crypto-market-hits-3t-as-trumps-win-boosts-confidence\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Crypto market hits $3T as Trump\u2019s win boosts confidence\",\"datePublished\":\"2024-11-20T16:21:11+00:00\",\"dateModified\":\"2024-11-20T17:10:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/crypto-market-hits-3t-as-trumps-win-boosts-confidence\"},\"wordCount\":363,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/crypto-market-hits-3t-as-trumps-win-boosts-confidence#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eritrea\/sites\/27\/2024\/11\/sm_1732109980.887891.jpg\",\"keywords\":[\"Bitcoin\",\"Crypto markets\",\"Eritrea\",\"Trump\"],\"articleSection\":[\"all news\",\"miscellaneous\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/eritrea\/all-news\/crypto-market-hits-3t-as-trumps-win-boosts-confidence#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/crypto-market-hits-3t-as-trumps-win-boosts-confidence\",\"url\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/crypto-market-hits-3t-as-trumps-win-boosts-confidence\",\"name\":\"Crypto market hits $3T as Trump\u2019s win boosts confidence - 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