Bitcoin Hits Record High of $83,000 as Trump's Return to Presidency Spurs Bullish Market Sentiment
- Patricia ArquetteOriginal
- 2024-11-12 03:16:08797browse
The cryptocurrency market is witnessing a historic milestone as Bitcoin reached an unprecedented $83,000 this morning, spurred by bullish market sentiment following Donald Trump's return to the U.S. presidency.
Bitcoin price hit a record high of $83,000 on Monday morning, continuing its relentless rally and adding to the optimism in the cryptocurrency market following Donald Trump’s return to the U.S. presidency.
Investors are betting on Trump’s administration to support a favorable regulatory environment for cryptocurrencies. Trump’s pro-crypto stance has reportedly helped drive the narrative of pro-crypto market sentiment, which is also fueled by the promise of favorable U.S. policies toward digital assets.
With the U.S. Congress now featuring more pro-crypto lawmakers, the landscape appears increasingly supportive for digital currencies. Trump’s re-election has also sparked speculation about potential tax benefits for crypto investors, adding to the enthusiasm in the market.
Bitcoin Surges to Record High, Clocking 120% Year-to-Date Gain
Data from major cryptocurrency exchanges shows that Bitcoin price began a steady upward surge late Sunday evening. Surging past the $80,000 threshold, BTC price hit a record high of $84,961 at one point on Monday morning.
This latest peak marks the most significant BTC price surge since its previous high of $81,000 last week. From the lows of around $39,000 at the start of 2024, Bitcoin has clocked an impressive 120% year-to-date gain.
Bitcoin’s latest record high highlights the sensitivity of the crypto market to political developments. As the landscape continues to evolve, investors are keeping a close watch on regulatory updates and new investment opportunities in the booming digital asset space.
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