Bitcoin up 40%

Bitcoin and cryptocurrencies have enjoyed an impressive rise since the presidential elections.

In particular, Bitcoin has recorded a 39.5% increase in recent weeks, peaking at 88,571.78 USD on November 11.

The price of bitcoin and other cryptocurrencies soared on Monday, extending a rally set off last week by the reelection of former Pres. Trump. https://t.co/XRCHgDFYtc

— ABC News (@ABC) November 11, 2024

Enthusiasm in the crypto world is surging this November, with the continued rise of Bitcoin, but also lesser-known cryptocurrencies such as Dogecoin (largely and solely driven by Musk, in fact) and Litecoin, have also recorded notable increases.

However, it was Bitcoin that dominated the race, reaching a record high by surpassing $88,000 for the first time.

Bitcoin’s value rose impressively after Donald Trump’s victory in the presidential election, from $68,000 before the November 5 results to much higher levels.

A former cryptoskeptic, Trump had expressed doubts about Bitcoin and other cryptocurrencies in 2019, calling them “insecure” and “speculative”.

He had declared himself not a fan of Bitcoin, preferring the traditional currency, the US dollar, and highlighted the associated risks, including fraud and illegal activity.

Trump recently performed a complete reversal of his positions on cryptocurrencies, stating at a crypto conference that he wanted to transform the United States into the “crypto capital of the world”, no less!

We can better understand investors’ enthusiasm following his victory and imminent return to the White House…

This content was created with the help of AI.