Don't miss interesting news
After Donald Trump won the US presidential election, the cryptocurrency market experienced a predictable and rapid surge. Bitcoin prices began to rise rapidly, setting new records. The increase in the value of the cryptocurrency was driven not only by the election results, but also by the general increase in interest in cryptocurrencies due to events on the global stage.
On November 6, a few hours after the election results were announced, the price of bitcoin exceeded $75,000, and by November 8, it reached $77,000. Compared to the beginning of the week, when the cryptocurrency was trading at 68-69 thousand, this was a significant jump. The previous record for the price of bitcoin was set in March 2024, when news of the launch of spot bitcoin ETFs contributed to the market excitement. However, the new high on November 6 was only the beginning of this rapid growth.
On the night of November 9, bitcoin once again overcame an important psychological mark and exceeded $77,000, and on November 10, the price of the cryptocurrency exceeded $80,000. This was a landmark moment for investors and analysts who followed the prices of digital assets.
In general, amid rising bitcoin prices, all major cryptocurrencies from the top 10 by capitalization ended the week in the green zone. Cardano (+81.2%), Dogecoin (+69.4%), and Solana (+33%) showed the largest gains, indicating an overall positive trend in the market. At the end of the week, the total capitalization of the cryptocurrency market amounted to $2.88 trillion, with bitcoin dominating at 58.6%.
This growth in the value of bitcoin and other cryptocurrencies once again emphasizes their importance in the modern economic system, which seems to be ready for new, even unpredictable changes. Given current trends, cryptocurrencies are becoming not only an asset for investment, but also an important element in the global financial landscape.
In June, Trump came out as a defender of digital assets, criticizing failed attempts by Democrats to regulate this area and announcing his intention to become the “cryptocurrency president.”
In August, the Republican presented a plan designed to strengthen the US leadership in the cryptocurrency sphere and make the country the “cryptocurrency capital of the world.”
If he becomes president, Trump promised to fire SEC Chairman Gary Gensler. According to Politico’s sources, the candidates for his place include Robinhood General Counsel Dan Gallagher, former CFTC Chairman Chris Giancarlo, SEC Commissioner Hester Piers, and former general counsel Robert Stebbins.
Among Trump’s other promises:
The politician congratulated the cryptocurrency community on the 16th anniversary of the publication of the Bitcoin white paper and even paid with bitcoins for the burgers he handed out to supporters of this technology at the PubKey themed bar in New York.
However, in an August interview with billionaire Elon Musk, Trump did not mention cryptocurrencies, although many expected him to. During the debate in September, Trump and Harris also did not discuss digital assets.
The 2024 US presidential election will also be remembered for the growing popularity of prediction platforms. Polymarket users bet more than $3.6 billion on the outcome of the main event of the year in American politics.