Emmanuel OchayiBitcoin Surges as Trump Wins Election
Following Donald Trump’s victory in the U.S. presidential election, the price of Bitcoin jumped nearly 8% on Wednesday, crossing the $75,000 mark and reaching an all-time high.
Bitcoin, the leading cryptocurrency, currently stands at around $79,782.01. Investors view Trump’s win as a positive development for the cryptocurrency market, given his campaign promises to support crypto innovation.
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Ethereum and Other Cryptocurrencies Follow Bitcoin’s Lead
Ethereum, the second most popular cryptocurrency, mirrored Bitcoin’s climb with an 8% increase, positioning itself as another strong investment option in this rally.
Other notable cryptocurrencies that surged include BNB, Bitcoin Cash, Solana, and Dogecoin, with each experiencing significant gains as confidence in the crypto market grew.
Trump’s Pro-Crypto Stance Spurs Investment
Throughout his campaign, Trump emphasised making America the “crypto capital of the planet” and even accepted campaign donations in cryptocurrency.
His promise to create a “strategic reserve” of Bitcoin and establish World Liberty Financial, a new crypto venture with his family, has generated optimism among crypto supporters. “Investors are looking at this as a time to get in while the market is energized,” said crypto analyst Michael Chang.
Crypto Market Speculates on Bitcoin Reaching $100,000
With Bitcoin’s recent surge, speculation is rising on when—rather than if—Bitcoin will cross the $100,000 mark. Industry insiders are keeping a close watch on the cryptocurrency’s trajectory, anticipating future growth fueled by Trump’s pro-crypto approach.
“This could be the beginning of a new phase for crypto,” Chang added, noting how increased investor interest might accelerate market growth.
Top 6 Cryptocurrencies That Rose After Trump’s Win
- Bitcoin: $80,000.01
- Ethereum: $3,201.63
- BNB: $637.19
- Bitcoin Cash: $443.00
- Solana (SOL): $207.17
- Dogecoin: $0.24
This post-election rise in cryptocurrencies has stirred up fresh enthusiasm and led to increased speculation in the crypto community. As markets continue to react to Trump’s policies, it remains to be seen if cryptocurrencies like Bitcoin and Ethereum will keep their momentum and reach new heights.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
