Bitcoin surged to a new all-time high on US election day, driven by growing optimism among investors regarding Donald Trump’s chances in the presidential race. Early Wednesday morning (PKT), Bitcoin hit $75,000, surpassing its previous record of $73,797 from March 14. Prior to this, Bitcoin had mostly traded between $56,000 and $70,000 throughout the year.
By 10 AM, Bitcoin had climbed 9.32%, trading at around $74,717. This increase came as the crypto market closely followed the election results, which initially showed Trump leading over Kamala Harris. As the night progressed, Harris gained ground, narrowing the gap to just 4 million votes behind Trump’s 60 million.
As a result, analysts predict that Bitcoin’s price may remain volatile until a clear winner emerges. However, many believe that if Trump loses the race, the cryptocurrency market could experience a sharp decline, reflecting the uncertainty surrounding the election’s outcome.
