The 2024 US Presidential Election had a big result, with Donald Trump winning the presidency. This development greatly affected the cryptocurrency market, especially Bitcoin, which went up to a record high of $76,500 with Donald Trump securing the presidency. Analysts predict that Bitcoin could hit $100,000 by the end of the year, boosted by the excitement around the election and easing monetary policies.
Bitcoin’s price has gone up by 14% since Trump won, with a 21% increase in the last month and its value doubling over the past year. Other popular alternative cryptocurrencies, like meme tokens and decentralised exchange tokens, have also seen big gains of more than 10%.
The “Trump trade” trend has excited investors, who see a potential Trump win as beneficial for cryptocurrencies.
Experts predict that Bitcoin will get close to its old record high of $73,000 before the election, but there could be ups and downs after the vote. The future for Bitcoin looks positive, with many expecting its price to hit $100,000 by the end of the year.
