Bitcoin has recently hit a new all-time high, surpassing $80,000 for the first time ever. This comes after a week of significant gains for the cryptocurrency, with the price initially rising from just above $77,000 to surpass the $80K mark. The rise in Bitcoin’s value can, in part, be attributed to U.S.
President-elect Donald Trump’s support for the cryptocurrency industry during his campaign. Trump has promised to protect and boost the industry in America and put an end to the Securities and Exchange Commission’s crackdown on crypto. As a result, Bitcoin has seen a nearly 17% increase in value for the week, with its current price at $79,875.
Other major cryptocurrencies, such as Cardano, Dogecoin, and Ethereum, have also experienced significant gains in the past week, with Cardano up 86%, Dogecoin popping 66%, and Ethereum jumping 31% due to renewed decentralized finance (DeFi) optimism. In summary, Bitcoin has reached a new all-time high, surpassing $80,000 for the first time ever, due to the support from President-elect Donald Trump during his campaign.
Other major cryptocurrencies have also seen significant gains in the past week, with Cardano, Dogecoin, and Ethereum recording substantial increases in value.
