On November 6, the Bitcoin rate reached a new all-time high amid Donald Trump's victory in the US presidential election.
The BTC price started to be pumped on Wednesday at 03:00 Moscow time, and in three hours it increased by more than 8% and reached $75 on the stock exchange Bitstamp , which is 1,7% higher than the previous record high of $2024 set in March 73. The coin's price is currently being corrected, but judging by the huge number of coins purchased, the downward trend will quickly fizzle out.
It became known overnight that Trump won in 15 states, while his main rival Kamala Harris won in only eight regions. It is clear that traders bet on Donald's triumph and began buying up cryptocurrency even before the end of the voting.
In the short term, a Democratic victory would be like putting a nail in the coffin [of cryptocurrencies]. Maybe not in the long term, but the market is placing a huge amount of importance on the election, said Matthew Dibb, chief investment officer at cryptocurrency firm Astronaut Capital.
Bitcoin was not the only virtual currency that rose sharply in price during the vote. For example, Solana (SOL) increased in price 16%, Avalanche (AVAX) - 15%, and Ethereum (ETH) — 7%. Meme tokens also benefited from Trump’s likely triumph. Rate Dogecoin (DOGE) soared 31%, and the price Shiba Inu (SHIB) rose 13%.