Oct 20 (Lagos) - Bitcoin has smashed past the $68k mark as Donald Trump leads in nationwide polls to potentially become the 47th President of the USA. Elon Musk backed DOGECOIN has also hit 15 cents as at the time of writing this article.
President Trump has spoken about making US the global hub of cryptocurrencies and that is the reason for such a strong momentum in the cryptocurrency. In Asia, the island nation of Singapore has also taken some major steps in coming the Asian hub for crypto-currencies in the coming years. Singapore is also a major tax-haven and it could become the perfect crypto-currency center of the east in the coming years.
However the enthusiasm could be short lived. What President Trump is saying is sounding like music to investors in the crypto-currency world right now but as time passes, it may become clear that there will have to be significant oversight and regulation imposed upon the crypto-currency investing world which is often described as a playground for criminal activities like drug trade, human trafficking and money laundering activities. How President Trump will deal with such criminal activities to push them out of this market would be anybody's guess.
Right now, no one really cares, Bitcoin is currently going to the moon as they say, and investors and traders worldwide are cashing in on the bonanza.