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Cryptocurrency rally: the price of a single bitcoin has reached a new record of $98,367
Bitcoin has inched closer to $100,000 (£79,360).
Amid frenzied trading yesterday, a single bitcoin hit a new record above $99,000, bringing gains since Donald Trump won the US presidential election to 45 percent.
Bitcoin has been one of the big winners following its victory amid hopes that it will usher in cryptocurrency-friendly policies.
He has promised to make the United States “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 seems almost inevitable as optimism grows.
“Trump’s long-awaited return to the White House is fueling hopes for a more crypto-friendly federal stance.”
Analysts at Standard Chartered believe bitcoin could hit $200,000 (£158,710) next year.
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