$Bitcoin (BTC.CC)$For the first time in over a month, it has broken through $67,000, reigniting speculation that the largest cryptocurrency will soon reach new highs. The market is optimistic that Trump's election will be beneficial to digital assets.
Stimulated by the rise of bitcoin, US stock and cryptocurrency concept stocks rose across the board overnight,$Bitdeer Technologies (BTDR.US)$rising by more than 16%,$MicroStrategy (MSTR.US)$rose more than 14%,$Hive Blockchain (HIVE.US)$rose more than 13%,$Coinbase (COIN.US)$,$Iris Energy (IREN.US)$rose more than 10%,$Riot Platforms (RIOT.US)$rose nearly 10%.
Stephane Ouellette, CEO of FRNT Financial, said that the increasing probability of Republican presidential candidate Trump's victory is driving bitcoin and other cryptocurrencies higher, because if re-elected, Trump will create a more favorable regulatory environment for the cryptocurrency industry.
"We are on the edge of another bull market cycle, similar to 2021," Ouellette said.
The last time Bitcoin hit a historical high was at the end of 2021.
According to PredictIt data, after the attempted assassination attempt against Trump, the probability of him being elected U.S. president rose to about 63% within a few days. During the same period, Bitcoin rose by about 15%.
Editor/Somer