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Trump Wins US Presidency Over Harris: Bitcoin Rises in Response

Donald Trump declared his victory over Kamala Harris in the 2024 US presidential election. A Trump victory means a change in US policy; and crypto advocates have paid close attention to the move he is going to make in returning to the White House.

Donald Trump’s 2024 presidential victory over Kamala Harris impacts Bitcoin price and the crypto market.
Source: https://bitcoinist.com/survey-trump-leads-harris-by-15-but-his-token-project-tells-a-different-story/

Trump’s victory has triggered frenzies in cryptocurrency markets. The global crypto market capitalization jumped 8% in the last 24 hours to $2.47 trillion. Bitcoin was among the top earners, reaching an unprecedented all-time high of $75,361 before settling at $74,304.

The expected nail-biter competition it would be, with many people literally hanging onto almost the last breadth, ended with Trump leading well at 277 electoral college votes. During the hours preceding the result, forecasts on Polymarket for Trump leaped from 58% to more than 93%.

Trump, once skeptical about crypto, shifted his stance during the campaign, promising to make the US a hub for digital assets. He pledged to create a national Bitcoin reserve and accepted crypto donations, fueling enthusiasm among blockchain supporters.

The global crypto market continued its upward trajectory following Trump’s win. Bitcoin, buoyed by high trading volume, has sparked interest in price projections. At the time of this report, BTC trades at $74,501, nearing its previous record and potentially setting the stage for further gains in the coming days.

November 6, 2024 at 3:00 pm

Updated November 6, 2024 at 3:00 pm

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