Bitcoin hit an all-time high, surpassing $75,000
On Wednesday morning, #bitcoin hit an all-time high of $75,000 on the #Binance exchange, rising more than 10% in 24 hours.
It was boosted by the early results of the U. S. presidential election, which sparked optimism among crypto investors about the possibility of former President Donald Trump returning to office.
The rise was the second record high for bitcoin this year. It previously peaked in March, marking the end of a prolonged "cryptozyme" that had kept prices from rising for several years.
Investor excitement over Trump's possible victory increased when he began using cryptocurrencies during the campaign.
Trump also promised to replace SEC Chairman Gary Gensler. Chairman Gensler's tough regulatory stance has often frustrated the crypto community. In addition, Trump's proposal to create a National Bitcoin Reserve has attracted the attention of #cryptocurrency supporters.
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