Bitcoin’s price has surpassed $74,000 and set a new all-time high. This is how the market is reacting to the early lead of Republican candidate Donald Trump in the 2024 US presidential election, The Block reports.
Over the past 24 hours, Bitcoin has risen by 9.5%. The cryptocurrency continues its growth after surpassing the November 2021 all-time high of $69,000 on March 5, 2024, and reaching $73,000 on March 13. After reaching this high, Bitcoin remained between $50,000 and $70,000 for the better part of seven months.
Bitcoin’s new all-time high coincides with the US presidential election. Former President Donald Trump changed his mind about cryptocurrencies in May 2024 when his campaign started accepting them as donations. Since then, he has met with executives of bitcoin mining companies and stated that he wants to make the United States the “cryptocurrency capital” of the world. Democratic candidate and current vice president Kamala Harris has been much more reserved on this topic.
By the way, according to CNBC, in addition to Bitcoin, cryptocurrency memes have also started to grow: Dogecoin by more than 22% and Shiba Inu by 8%.
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