Bitcoin Saw ‘Historic Rally’ In November Thanks To Trump Win, Says JPMorgan
Posted On December 9, 2024
November delivered record-breaking performance across the cryptocurrency market, fueled by political developments and surging investor sentiment, according to a JPMorgan research report released Monday.
What Happened: “President-elect Donald Trump‘s reelection triggered a historic rally, leading to significant growth in market capitalization throughout the crypto ecosystem,” analysts led by Kenneth Worthington noted, according to a Coindesk report.
The rally positively impacted tokens, decentralized finance (DeFi) projects, stablecoins and publicly traded companies tied to cryptocurrencies.
The report highlighted a 45% increase in the total crypto market capitalization, which reached $3.3 trillion—its highest monthly return on record. …
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