Bitcoin surges 129% since the beginning of the year, thanks to the halving event and the US elections

Bitcoin has increased by about 130% since the beginning of 2024, driven by the halving event and the results of the US presidential election, with Donald Trump re-elected. The halving event occurred, reducing the supply of Bitcoin in the market, increasing demand and the value of this currency. After the election, the price of Bitcoin reached a record high, surpassing 98,000 USD, with expectations that the Trump administration will have a more favorable management approach towards the cryptocurrency market, encouraging investment in the sector.

In addition, Trump's promise to build a national Bitcoin reserve and create a favorable legal environment for cryptocurrency companies has attracted significant investment into Bitcoin. Over 4 billion USD has been poured into Bitcoin ETF funds listed in the US shortly after the election. This positive reaction has not only occurred in Bitcoin but has also spread throughout the cryptocurrency market, causing the value of many other cryptocurrency assets to increase sharply.