Bitcoin at fresh record highs as Trump meme coin sparks buying fever

Love him. Hate him. He certainly does live up to the memes and this time, quite literally. Trump launched his own cryptocurrency over the weekend, dubbed $TRUMP and it has already generated roughly $12 billion in market cap (the high was $14 billion overnight). It is sparking a buying frenzy in the crypto space and Bitcoin is now catching on as well.

The “benchmark” cryptocurrency is now trading up to near $109,000 in a bid to fresh record highs. Buyers are definitely being rewarded for holding the line around the $90,000 to $92,000 mark since December.

Price action is flirting with the break of the December high of $108,388 now. Mooning. 🚀

This article was written by Justin Low at www.forexlive.com.