This is the second time this year that Bitcoin has set a record – the first cryptocurrency previously hit an all-time high in March, reaching $73,777. This put an end to the “crypto winter” that lasted for several years.
The new all-time high of $75,000 had a positive impact on the entire cryptocurrency market, triggering the growth of altcoins: Ethereum grew by more than 6% per day to $2,596, Cardano jumped by 9% to $0.3618, and Solana grew by 15% to $188. Popular memocoins also showed significant growth: Dogecoin jumped more than 30% to $0.21885, and Shiba Inu rose more than 12%.
The impressive jump in the Bitcoin price is associated with the enthusiasm of investors against the backdrop of the US presidential elections. Early election results have crypto investors optimistic about former President Donald Trump’s possible return to the White House. The Republican candidate has positioned himself as a crypto enthusiast by embracing digital assets for his political campaign.
To prove his commitment to developing the crypto industry, Trump promised to fire the chairman of the US Securities and Exchange Commission (SEC), Gary Gensler, who is often criticized by crypto companies for his reluctance to provide them with clear rules for regulating cryptocurrencies. In addition, Trump set an ambitious goal, promising to create a national reserve in bitcoins. In May, Trump began accepting donations in cryptocurrencies, including BTC, ETH, DOGE and SOL.
According to Bernstein company forecasts, if Donald Trump wins, the Bitcoin rate could exceed $90,000, and if Kamala Harris becomes US President, the first cryptocurrency will fall to $50,000.
Source: Bits
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