WASHINGTON DC: Bitcoin has reached a new all-time high of $75,000 on US election day, driven by investors earlier betting on Donald Trump’s presidential win. This surge has led to a 9.32 percent increase, with the cryptocurrency trading around $74,717 as of 10 AM today.
Notably, Bitcoin previously hit a record $73,797.68 on March 14 and has fluctuated between $56,000 and $70,000 for most of the year.
The crypto market’s performance is closely tied to the US election results, where Republican presidential candidate Donald Trump has declared victory over Democratic rival, Kamala Harris after being projected to win the key battleground states of Pennsylvania, North Carolina, and Georgia.
Investors anticipate choppy bitcoin trading until a clear winner is declared. Interestingly, earlier some experts suggest that if Trump doesn’t win, the crypto market may experience significant losses.
The US election’s impact on the crypto industry extends beyond market fluctuations. The outcome will shape crypto regulation, taxation, and mainstream integration. Both Trump and Harris have expressed varying views on crypto, with Harris pledging to support policies that expand the industry.
The regulatory landscape remains evolving, with government agencies employing diverse strategies to regulate different aspects of the industry.
