CandleFocus Bitcoin, Altcoins Explode as Election Results Keep Rolling In
2024-11-06
Author: Content Editor
Bitcoin prices reached a new peak of $75,000, driven by a 9% gain as the US election votes were counted. The total market capitalization also hit $2.57 trillion, its highest level since late July, primarily due to Bitcoin's surge. Other cryptocurrencies like Dogecoin, Solana, and MAGA also experienced significant gains. However, Ethereum and some other altcoins lagged behind. The short-term pump in Bitcoin is influenced by the potential outcome of the election, with a higher likelihood of a price increase if Trump wins. However, a sharp retracement is expected if Kamala Harris is victorious. Former President Barack Obama cautioned that it may take a few days to determine the election outcome.
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