Bitcoin price hits six-week high after Trump backs cryptocurrency.

After months of apparent silence regarding cryptocurrencies, a recent announcement by former US President Donald Trump seems to be changing the fortunes of the bitcoin market. Due to the rapid rise and spread of artificial intelligence, followed of course by intense media coverage, the crypto economy has fallen victim to gradual disinterest - among other reasons.

Over the past weekend, Trump publicly shared his intention to end the ‘persecution of the cryptocurrency industry’ if he wins the next US election, to be held in November. The former president showed his support for the industry by declaring, moreover, that he would make the US the world leader in the field.

Trump's firm stance gave some impetus to the cryptocurrency's current value, driving it up by more than 3% on Monday, reaching a peak of around $69,745 - the highest since 12 June, when the currency reached over $69,800.