Bitcoin hits record $97,000 as Trump boosts crypto confidence

Bitcoin reached a record high of $97,000 on Thursday, rising 4.54%. This surge is linked to increased investor confidence following the recent US election, with many viewing Bitcoin as part of the "Trump trade." The cryptocurrency has gained 35% in the past month and 94% this year, as investors anticipate favorable regulations under a potential Trump administration. Trump has expressed strong support for cryptocurrencies, promising to enhance the US's position in the market. While some analysts predict Bitcoin could reach $100,000, concerns remain about potential inflation from Trump's tariff policies, which could impact cryptocurrency markets. Cryptocurrencies generally perform better in low-interest-rate environments.