Bitcoin up 40%

Bitcoin and cryptocurrencies have enjoyed an impressive rise since the presidential elections.

In particular, Bitcoin has recorded a 39.5% increase in recent weeks, peaking at 88,571.78 USD on November 11.

The price of bitcoin and other cryptocurrencies soared on Monday, extending a rally set off last week by the reelection of former Pres. Trump. https://t.co/XRCHgDFYtc

— ABC News (@ABC) November 11, 2024

Enthusiasm in the crypto world is surging this November, with the continued rise of Bitcoin, but also lesser-known cryptocurrencies such as Dogecoin (largely and solely driven by Musk, in fact) and Litecoin, have also recorded notable increases.

However, it was Bitcoin that dominated the race, reaching a record high by surpassing $88,000 for the first time.

Bitcoin’s value rose impressively after Donald Trump’s victory in the presidential election, from $68,000 before the November 5 results to much higher levels.

A former cryptoskeptic, Trump had expressed doubts about Bitcoin and other cryptocurrencies in 2019, calling them “insecure” and “speculative”.

He had declared himself not a fan of Bitcoin, preferring the traditional currency, the US dollar, and highlighted the associated risks, including fraud and illegal activity.

Trump recently performed a complete reversal of his positions on cryptocurrencies, stating at a crypto conference that he wanted to transform the United States into the “crypto capital of the world”, no less!