Donald Trump won the U.S. presidential election on Wednesday, November 5, 2024.
Bitcoin surged above $75,000, establishing a new all-time high.
Trump’s election victory triggered FOMO among crypto users.
Bitcoin surged past $75,000 on Wednesday, November 5, 2024, marking a new all-time high following Donald Trump’s victory in the U.S. presidential election. This rally reflects the optimism across the crypto market, with many altcoins posting gains of over 10%.
In a podcast, Altcoin Buzz analysts highlighted Trump’s proclaimed support for cryptocurrency and its potential effects on the crypto market. The analyst noted that Bitcoin’s ability to hold above key resistance levels could spark a broader rally, positively impacting altcoins.
Trump’s Crypto Policies Boost Market Sentiment
During the campaign, Trump frequently voiced his support for the cryptocurrency industry, pledging to improve regulations. His promises include backing the development of crypto-based financial products, relaxing restrictions on digital assets, and creating a national Bitcoin reserve.
Read also: Bitcoin’s $76K Surge Highlights the “Trump Trade” Effect
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