Bitcoin traded at $68,290 on the day Trump was elected president of the United States on November 5, after falling from its high price of $72,780 reached on October 30, 2024. Trump won the election by an overwhelming margin, defeating his Democratic opponent Kamala in the polls. Trump received 312 votes from electoral college compared to her counterpart’s 226. Trump also won by a landslide, with 312 electoral college votes to Kamala Harris’s 226.
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Following Trump’s election win in the U.S., the cryptocurrency and stock markets both experienced a huge rally. Bitcoin surged up the charts and pushed other altcoins with it to reach new highs. With Trump in charge, investors remain positive as they believe Trump can do well for the economy. Others believe that the new President could put an end to the wars in the Middle East, and the conflict between Russia and Ukraine.
Bitcoin was up after Trump’s victory in the U.S. Presidency
Bitcoin jumped from $68,290 to $99,645 after Trump won in the U.S. elections on November 5. This is a jump of over $31,000 just two weeks following Trump’s election victory. Bitcoin hovers at $96,823 on Friday, and has gained nearly 2% during the trading day.
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If the market continues to grow, Bitcoin may surpass the historic $100,000 milestone. Bitcoin’s price could surge after Trump assumes office in 2025. The President-elect will be picking crypto-friendly appointees The U.S. Treasury Cabinet is led by the U.S. Secretary of Finance.
Trump also wants the Commodity Futures Trading Commission to supervise the crypto market. Read here It is important to understand how the CFTC regulates the market for digital assets under Trump. When he takes office, the incoming President has also promised to turn the U.S. into the global crypto capital. Bitcoin may be set for a rise in the coming four years, while Trump holds the reins.
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Source: watcher.guru
