Bitcoin hits a new high amid U.S. elections

On Wednesday, November 6, Bitcoin’s price broke $75,000, reaching a new all-time high. Within just 24 hours, BTC surged by 10% amid the ongoing presidential election in the USA. Other cryptocurrencies are also on a positive track.

According to the preliminary results, Donald Trump has won the election. The billionaire has already declared himself the new U.S. president.

Interestingly, a day before the election, financial advisory firm Bernstein made a prediction concerning the election results. Analysts at Bernstein said that in case of Donald Trump’s victory, BTC would trade at about $90,000, while if Kamala Harris won, Bitcoin price could dip to $50,000.

Bernstein experts also stated, “The Bitcoin genie is out of the bottle, and it is hard to reverse this course.”

Crypto enthusiasts, many of whom are also Trump supporters, have already started posting their congratulations and predictions on the near future of the whole industry. Coinbase CEO Brian Armstrong believes that Americans have voted for transparent crypto regulations.

“The crypto voter has spoken decisively <…>. Americans disproportionately care about crypto and want clear rules of the road for digital assets. We look forward to working with the new Congress to deliver it. Thank you to everyone who stood with crypto today. We did it!” Armstrong posted on X.