After the election of Donald Trump, Bitcoin increased massively.

Bitcoin stabilized on Friday after its recent losses. The price of the oldest and most well-known cryptocurrency was around $106,000 on Friday morning, roughly at the same level as the previous evening. Over the course of the week, Bitcoin had steadily declined from nearly $111,000 at the start.

Factors driving price movements included US President Donald Trump's tariff policy and the many different signals sent to the markets. After a postponement of the announced tariffs on EU goods provided a boost at the beginning of the week, doubts about a favorable resolution to the trade war instigated by Trump resurfaced over the course of the week.

Overall, however, Bitcoin continues to benefit from Trump's election. He is considered a promoter of cryptocurrencies and also trades in them. For example, Trump's media company TMTG is a Bitcoin buyer.

Since Trump's election as the new US president in early November, the price has risen from less than $70,000 to a peak of $112,000 last week. As is often the case with cryptocurrencies, the fluctuations were sometimes massive.

Bitcoin currently has a market capitalization of around $2.1 trillion. It dominates the cryptocurrency market, which is valued at just over $3.3 trillion.