By:- B.T Team
Image Credit:- Google
Bitcoin crossed $75,000, hitting a record high during the 2024 US election, driven by uncertainty in traditional markets.
Bitcoin Surge:
Bitcoin prices spiked as Trump gained momentum in the polls, with traders seeing him as more favorable for crypto.
Trump’s Influence:Voters:
Kamala Harris vs. Trump:
– Although Harris is strong, Bitcoin traders view Trump’s policies as better for cryptocurrency.
Crypto and Republicans:
Republicans, especially Trump supporters, are increasingly backing Bitcoin, unlike Biden’s administration.
Bitcoin typically rises during political instability, acting as a safe haven for investors.
Election Uncertainty:
Record Trading Volume:
– Bitcoin trading volumes have surged as election tensions rise, reflecting growing demand.
Institutional Support:
Major investors are jumping into Bitcoin, believing Trump’s policies will boost digital currencies.
Global Hedge:
Bitcoin’s rise is not just US-driven—global investors are seeing it as a hedge against inflation.
Trump has openly supported blockchain, boosting his image in the crypto community.
Regulatory Concerns:
Bitcoin’s rise is linked to fears of new regulations depending on who wins the election.