Bitcoin hit a new record high of $80,000 on November 10 due to optimism from Donald Trump’s election win. The cryptocurrency gained 4.83% over 24 hours, peaking at $80,071.17. Bitcoin’s price has increased by 80% this year and by over 15% since Trump’s victory. The industry has shown signs of optimism since Trump became president-elect, with bitcoin exchange-traded funds (ETFs) bagging massive inflows.
However, Trump may face legal difficulties in delivering some of his promises, such as firing SEC chairperson Gary Gensler.
