Bitcoin Hits New All-Time High As Donald Trump Wins Second Term: What Now?
Bitcoin (CRYPTO: BTC) surged to a new record high, touching $75,358 during early Wednesday trading in Europe and surpassing its previous peak of $73,737 from Mar. 14, as Donald Trump beat Kamala Harris to win the 2024 election.
Although it later pulled back slightly to $73,879, the cryptocurrency maintained a strong 6.7% gain over the last day, according to CoinGecko data.
In contrast, Ethereum (CRYPTO: ETH) showed more modest activity, trading at $2,618 and remaining 46% below its all-time high of $4,878 from November 2021.
The ongoing momentum has largely favored Bitcoin as the asset draws heightened interest amid a positive regulatory outlook following the U.S. election.
U.S. Election Sparks Renewed Optimism For Crypto Investors
The market’s rally follows the election results, with President-elect Donald Trump’s pro-crypto stance and the support of new crypto-friendly policymakers driving enthusiasm.
In a note sent to Benzinga, Samir Kerbage, CIO at Hashdex, emphasized that the election results were a positive development for the crypto industry.
“We’ve been conveying to clients in recent months that the U.S. election, regardless of the specific outcome, will be a net positive for crypto investors,” he noted. “Yesterday’s results were ideal given the pro-crypto stance of President-elect Trump and many newly elected policymakers.”
Bitcoin’s swift rise reflects the anticipation …
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