Bitcoin on the brink of a new historical maximum

The rapid rise of Bitcoin to $71,500 has led Bitfinex analysts to discuss the possibility of reaching a new historical maximum after the US presidential elections.

According to analysts at the cryptocurrency exchange Bitfinex, the combination of Donald Trump's high chances of winning the presidential elections and historically favorable market conditions creates the perfect ground for significant growth of Bitcoin in the coming month.

The uncertainty surrounding the elections, the narrative of 'betting on Trump', and the traditionally successful fourth quarter create unique conditions for Bitcoin. The next two weeks promise to be eventful, despite possible price fluctuations ahead of the elections,” the exchange's report states.