Excitement over Trump’s win pushes Bitcoin price above $80k
Bitcoin (BTC) surged to a new all-time high, briefly surpassing $80,000 following Donald Trump's election victory, sparking optimism for pro-crypto regulations. The cryptocurrency's price climbed 4.83% in 24 hours, hitting $80,071.17 before settling at $79,834.97 with a market cap of $1.58 trillion. Ethereum also saw gains, crossing the $3,000 mark. Bitcoin's 80% growth this year and 15% surge since Trump's win outpaced traditional investments.
Trump's shift in stance on crypto and promises to the sector have fueled expectations for pro-crypto regulations, with industry executives viewing his victory as a "big win for crypto." However, legal hurdles may impede the fulfillment of some promises, and analysts believe the creation of a Bitcoin reserve fund is a "low-probability event." Despite uncertainties, a crypto analyst predicts BTC price could reach $100,000 by year-end.
Article