Bitcoin price reaches new all-time high after Trump’s election win
Date
11/12/2024 3:45:08 AM
(MENAFN) Bitcoin reached a new all-time high on Monday, surpassing USD87,000, fueled by growing expectations that cryptocurrencies could flourish under regulatory support following Donald Trump’s election as US president. The surge marks a significant milestone in the cryptocurrency’s journey, as it has more than doubled in value from its lowest point this year, which was around USD38,505. This rapid increase has sparked renewed optimism about the future of digital currencies.
The world's most popular cryptocurrency was trading at USD87,079, reflecting a nearly 9 percent rise from Sunday evening’s price. Earlier in the day, Bitcoin briefly peaked at USD87,460, continuing its record-breaking trajectory. This surge highlights the heightened investor interest and enthusiasm in the digital asset, with many speculating that it could continue its upward trend in the face of favorable political developments and potential regulatory clarity in the US
Bitcoin has experienced several notable surges in value throughout its history, with one of the most prominent being in December 2017 when it reached approximately USD20,000. This jump was driven by a wave of interest in digital currencies, fueled by media coverage and growing public curiosity about their potential. The rapid rise during this period caught the attention of both retail and institutional investors, marking the beginning of a new era of digital currency investment.
At the close of 2020, Bitcoin reached another significant milestone, breaking the USD29,000 mark for the first time. This achievement set the stage for a massive upward trend in 2021, which saw Bitcoin’s value soar to even greater heights. The cryptocurrency’s continued growth over the years reflects both its increasing mainstream acceptance and the evolving landscape of digital finance, with many investors seeing it as a store of value and a potential hedge against inflation.
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