After Donald Trump’s victory in the United States elections, Bitcoin managed to break more than one all-time high this week and is currently trading above US$76,000. The feeling of optimism is transferred to the altcoin sector with Ethereum close to $3,000, and altcoins rising up to 25%.
Bitcoin has climbed almost 10% in recent days, while Ethereum has risen by approximately 18%. For its part, Solana exceeded $200 and Avalanche has an increase of 13%.
It happens that Donald Trump’s victory in the United States elections gave oxygen to a market that seemed to be waiting for a catalyst that would unlock its potential. Bitcoin registers a growth of more than 80% against the dollar, and an impressive 115% in the last 12 months.
What the week left us
As of Thursday’s data, the crypto market exceeded a volume of US$296.595 billion, with Bitcoin contributing US$137.85 billion of that volume.
From BuenBit they assure that at this moment, however, we consider that Investors still have time to add cryptocurrencies to their portfolio. Especially thinking about the coming market, greater adoption and new all-time highs.
This Friday, Crypto Fear & Greed Index shows “Extreme Greed”which indicated an increase in cryptocurrency trading volume. This indicator is at its highest level in three months, coinciding with the level reached on October 30after the new record of Bitcoin, which exceeded $76,000 after Donald Trump’s victory in the US presidential elections, which revived optimism in the crypto market.
What does Trump’s victory mean for the market?
At this point, investors are likely showing greed, as many expect Trump’s pro-crypto stance to boost the price of Bitcoin, possibly pushing it toward the $100,000 mark.
“The victory of the Republican magnate sends a signal to investors that there could be fewer regulatory restrictions and greater support for crypto markets. This optimism can encourage greater purchasing activity, raising prices and improving market sentiment.“, they explained from Buenbit.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
