Bitcoin Soars to $90K: Trump's Re-election Sparks Crypto Market Surge
Bitcoin Surges Toward $90,000 as Trump’s Re-election Fuels Crypto Rally
Bitcoin is approaching the $90,000 mark, continuing its upward trajectory following Donald Trump’s recent election victory. The world’s leading cryptocurrency has seen an impressive 18% increase over the past five days, driven by growing optimism surrounding Trump’s second term in office.
On Tuesday, Bitcoin’s price edged up 1%, reaching approximately $89,313 by mid-afternoon. This latest surge has set new records in the wake of Trump’s re-election, pushing the total cryptocurrency market value to a staggering $3 trillion. The rally has not been limited to Bitcoin alone, with meme-coins like Dogecoin also experiencing significant price increases.
Trump’s reputation as a “crypto president” has fueled speculation that his policies could positively influence digital asset prices. His campaign platform included strong support for cryptocurrencies, leading market participants to hope for more favorable regulations and the potential establishment of a national Bitcoin reserve.
During his campaign, Trump spoke at the 2024 Bitcoin Conference, where he advocated for a “bitcoin national stockpile.” In October, he further demonstrated his commitment to the crypto space by introducing a stablecoin through his company, World Liberty Financial.
As Bitcoin’s price continues to climb, traders are increasingly betting on the cryptocurrency reaching six figures by the end of the year. Data from the Deribit exchange shows a growing number of bets on Bitcoin surpassing the $100,000 mark. This optimism is echoed by financial institutions, with Standard Chartered forecasting in a September report that Bitcoin could potentially reach $125,000 by year-end.
With the cryptocurrency market showing no signs of slowing down, all eyes are on Bitcoin as it inches closer to the $90,000 milestone, leaving many to wonder just how high it can go under Trump’s second term.
