A "new era" thanks to Trump: JPMorgan suddenly pro Bitcoin?

JPMorgan is not known as a friend of Bitcoin, but now the bank seems surprisingly positive about cryptocurrencies.

A recent research report from JPMorgan reports that the crypto world is entering a new era, thanks in part to Donald Trump's election victory. According to JPMorgan, "the worst regulatory environment" is now behind us. Since Trump's election, the overall crypto market has increased 65 percent.

"The new government is not only crypto-friendly, but also wants to actively support these digital currencies," write JPMorgan analysts. They expect the crypto sector to become more secure, transparent and productive from now on.

The future government has shown its willingness to regulate the crypto market. This is what analysts see as a positive sign for the growth of cryptocurrencies. Previously, crypto companies had to abide by old securities laws from the 1930s, which often led to lawsuits. With the new government, there may be better and clearer rules.

In addition, the new president has filled some key positions with people who are be positive towards crypto. Gary Gensler, the head of the U.S. Securities and Exchange Commission (SEC), would possibly be succeeded by Paul Atkins, a well-known crypto lobbyist.

JPMorgan is often seen as one of the last big banks to be skeptical about crypto. Its CEO, Jamie Dimon, even compared Bitcoin to an addiction earlier this year. Yet JPMorgan's current report shows that the company is beginning to rethink its attitude and become more positive about cryptocurrencies.