Investing.com– Bitcoin price rose on Wednesday, extending a recent recovery as the prospect of a Donald Trump presidency bringing a friendlier regulatory environment largely offset concerns over selling pressure from Mt Gox.
Speculation over spot exchange-traded funds tracking Ether also aided sentiment towards crypto, as recent media reports said the Securities and Exchange Commission was close to approving applications from U.S. fund operators.
rose 2% in the past 24 hours to $65,803.3 by 01:41 ET (05:41 GMT).
Trump speculation helps Bitcoin rise past Mt Gox jitters
Bitcoin’s recovery came largely on the back of increased speculation that Trump will win a second term. The former U.S. president has projected a largely pro-crypto stance in recent campaigning efforts, and is also set to speak at the Bitcoin Conference in Nashville later in July.
Trump was seen gaining a major boost in popularity after a failed assassination attempt on the former President over the weekend.
Trump said on Tuesday that he will also release a fourth collection of non-fungible tokens. His campaign also accepts donations in crypto.
Mt Gox mobilizes $2.8 bln in Bitcoin
Defunct crypto exchange Mt Gox was seen mobilizing about $2.8 billion worth of Bitcoin this week, moving it onto exchanges likely as part of its planned distributions.
The exchange had earlier said it will begin returning tokens stolen during a 2014 hack back to creditors from July.
Fears of such a scenario- which entails a sharp increase in the active supply of Bitcoin tokens- had battered the cryptocurrency, putting it at over four-month lows earlier in July.
But the token recouped all of those losses over the past four days.
Crypto price today: Altcoins rise, Ether supported by ETF bets
Among broader crypto prices, major altcoins also advanced on the prospect of friendlier regulations in the U.S.
rose 3.6% to $3,503.20, as Reuters reported the SEC could approve some spot ETFs by as soon as next week.
surged over 10% amid rumors that was close to settling a long-running case with the SEC. The regulator had accused the firm of selling unregistered securities.
and rose 1.9% and 4.3%, respectively.
Among meme tokens, and rose about 2.6% each.
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