đđđ #bitcoinâïž Hits New High Above $76,000 Following #Trump's Victory
Bitcoin markets surged today, hitting a new all-time high after Donald Trump secured a second term as U.S. president. The leading cryptocurrency reached approximately $76,500 this afternoon, according to Coinbase data on TradingView.
Several analysts attributed this rally to Trumpâs reelection. Tim Enneking, managing partner at Psalion, highlighted the strong link between Bitcoinâs price movements and the election outcome. âItâs rare to see such a direct cause-and-effect relationship in public markets,â Enneking noted. âAs Trump gained votes, BTC rose; when Harris gained votes, BTC fell.â
Brett Sifling, an investment advisor at Gerber Kawasaki Wealth & Investment Management, echoed this view, stating that âThese gains in Bitcoin are largely a result of Donald Trumpâs victory.â Sifling added that many market participants viewed the election outcome as favorable for crypto, pointing to Trumpâs pro-crypto stance and commitment to bolstering Americaâs crypto position.
âTrumpâs enthusiasm for blockchain is evident, from his #NFTâ drop to launching his own coin,â Sifling continued, emphasizing Trumpâs interest in integrating Bitcoin into the financial system.
Looking ahead, several experts shared their price projections. Alice Liu, head of research at CoinMarketCap, expressed optimism. âAnalysts are predicting Bitcoin could hit $80,000 or even $90,000 in the wake of Trumpâs win, with confidence in a more crypto-friendly environment growing,â she stated.
Greg Magadini, director of derivatives at Amberdata, provided additional insights, referencing Deribitâs options market data. âDealer positioning suggests $BTC could settle between $80,000 and $90,000 by year-end,â Magadini noted, although he added that the chance of hitting $100,000 by year-end is currently priced at just 7%.
