Bitcoin had been aiming for a new all-time high for some time, and a few hours ago has achieved it reaching $75,358.70. After doing so, yes, the value has dropped significantly and at the time of writing this news it is around $73,000.
Everything was relatively quiet. Last March, bitcoin reached its all-time high, reaching $73,800. Since then, its value had remained at lower values that remained around $60,000, but the progress of voting in the United States presidential elections has provoked a unique reaction.
Trump cherishes victory. The progress of the voting in these last hours points to a victory for Donald Trump. That has been seen as a good sign by the crypto industry, and cryptocurrency values have been rising as Trump’s chances of victory have increased. Democrat Kamala Harris does not have that perception of being so favorable to cryptocurrencies, they point out and CoinDesk.
Notable crypto rises. The rise has not only affected bitcoin: practically the entire crypto market has seen notable increases of between 5 and 10%, and some cryptocurrencies such as Dogecoin have risen around 20%. It is a unique figure for this memecoin that in the past was already characterized by extreme volatility after bread Dogecoin: a single tweet has caused a 30%” data-vars-post-url=” rise in support from Elon Musk.
Cryptocurrency market capitalization. The rise has been notable in recent hours for many cryptocurrencies, although after it the values are falling significantly. Source: CoinMarketCap.
And also, change in the Senate. As they also point out and CoinDeskTrump’s potential victory has taken a backseat because there has been an even more determining factor in the change in trend in cryptocurrencies. Republicans have achieved control of the Senate, which favors the implementation of digital asset legislation. Furthermore, Senator Sherrod Brown, who posed an obstacle to such legislation, will leave office as a result of these election results.
And now what. The US presidential elections seemed to mark a turning point for the cryptocurrency market, which had remained “relatively” – with many quotes – stable in recent months. Everything could now change in one direction or another, and we may now begin to really see the effects of both the past “halving” of bitcoin and the approval of ETF funds based on bitcoin and Ethereum.
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