# Bitcoin Surges as Sentiment Boosted by Trump’s Promises
Bitcoin saw a significant rise on Thursday, maintaining its position near recent peaks as positive sentiment towards crypto markets was bolstered by expectations of more favorable regulations under the leadership of Donald Trump. Among meme tokens, Dogecoin also experienced extended gains and remained close to three-year highs reached earlier in the week. Social media chatter around Doge surged following Trump’s announcement of the formation of the Department of Government Efficiency (DOGE), led by prominent figures Elon Musk and Vivek Ramaswamy. Here’s a breakdown of the latest developments in the crypto world:
## Bitcoin Hits $89,885.4 Amidst Optimism
– Bitcoin surged by 3.8% to reach $89,885.4 by 00:30 ET (05:30 GMT).
– The token had achieved a record high of $93,226.6 on Wednesday before a slight dip.
– Broader crypto prices showed an upward trend despite a dollar rally to one-year highs.
## Trump’s Influence on Bitcoin
The surge in Bitcoin was largely attributed to the positive outlook surrounding Trump’s potential victory in the 2024 presidential race. Trump had previously pledged to introduce crypto-friendly regulations and even discussed the concept of a national Bitcoin reserve. Traders’ confidence in Bitcoin as a credible investment option grew as they anticipated more clarity on Trump’s policies. With Trump set to assume office in early 2025, the focus now shifts to the specifics of his regulatory framework for crypto.
## Dogecoin’s Rally Continues with Trump’s DOGE Formation
– Dogecoin saw a 9.1% rise to $0.394493 on Thursday.
– Traders speculated on the significance of Trump’s DOGE agency and its potential impact on Dogecoin’s recognition.
– Analysts expressed skepticism about DOGE’s authority to drive significant change, labeling it as a symbolic gesture.
## Altcoins Shine Despite CPI Data
– Major altcoins followed Bitcoin’s positive trajectory, albeit trading below recent peaks.
– Ethereum rose by 2.5% to $3,216.79, while Litecoin, Ripple, and Cardano recorded gains ranging from 2% to 9%.
– Crypto markets remained resilient in the face of U.S. consumer inflation data, which raised concerns about future interest rates.
As the financial landscape continues to evolve, it is essential for investors to stay informed and adapt their strategies accordingly. The developments in the crypto market, influenced by factors such as regulatory policies and macroeconomic indicators, have a direct impact on investment decisions and portfolio performance. By understanding these dynamics and their implications, individuals can make informed choices to secure their financial future and navigate the ever-changing world of finance.