From Tom's Hardware: After months of sitting in consolidation, Bitcoin has broken its record high for the second time this year, rising to over $84,000 at the time of writing. CNBC reports the main driving force behind Bitcoin's resurgence is Donald Trump's electoral win for the presidential seat.
Bitcoin broke its previous high ($73,794) on November 6, the day Trump won the election. Since then, Bitcoin has been on a nonstop bull run, charging to its all-time high of nearly $85,000 today. Bitcoin's new high represents a 15% increase over its previous high of $73,000 and a 23% increase from its last major high of $69,000 in 2021.
This massive spike is purportedly a result of market euphoria following Trump's presidential win. Trump is a big supporter of cryptocurrency, promising to make the United States the crypto capital of the world. He also purportedly insists that all Bitcoin should be mined in the country.
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