Crypto rally: The price of a single bitcoin has hit a new record high of $98,367
Bitcoin has soared ever closer to $100,000 (£79,360).
Amid frenzied trading yesterday, a single bitcoin hit a new record above $99,000, taking gains since Donald Trump won the US presidential election to 45 per cent.
Bitcoin has been one of the big winners following his victory amid 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 months ago, $100,000 seemed like a distant dream, but now it feels almost inevitable as optimism swells.
‘Trump’s anticipated return to the White House is fuelling hopes of a more crypto-friendly federal stance.’
Standard Chartered analysts believe bitcoin could hit $200,000 (£158,710) next year.
DIY INVESTING PLATFORMS
AJ Bell
AJ Bell
Easy investing and ready-made portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free fund dealing and investment ideas
interactive investor
interactive investor
Flat-fee investing from £4.99 per month
Saxo
Saxo
Get £200 back in trading fees
Trading 212
Trading 212
Free dealing and no account fee
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
Compare the best investing account for you