The 2024 US presidential election has led to a surge in the crypto industry, with Donald Trump emerging as the president-elect. Bitcoin has reached new all-time highs, surpassing $75,500, while BlackRock’s Bitcoin ETF saw a record volume exceeding $1 billion. Other major cryptocurrencies also experienced significant growth, with the crypto market rallying 5.3% following the election results. This celebration highlights the optimism surrounding a pro-crypto future under Trump’s leadership.

Bitcoin’s Surge: Historical Patterns Hint at Continued Growth After 2024 Election

Bitcoin’s recent rally follows a pattern observed after previous U.S. elections. After the 2020 election, the price surged by 369%, rising from $13,000 to $61,000. As the market anticipates a similar trend this year, investors are optimistic that Bitcoin could continue its upward trajectory, signaling a potential new all-time high in the near future.

Bitcoin’s recent price rise is aligning with its historical trends for Q4, where it has seen impressive returns in the past. Coinglass data shows BTC’s average return in Q4 has been 83%, with a median return of 37%. This pattern suggests that Bitcoin could continue its upward trajectory this quarter, possibly repeating the strong performance seen in previous years. The combination of recent price action and past trends makes many optimistic about Bitcoin’s potential this season.

Crypto Leaders React to Trump’s Election Win

Following Trump’s victory, key voices in the crypto world are celebrating the positive changes expected for the industry. Matt Hougan of Bitwise believes this marks the “Golden Age of Crypto,” with Bitcoin potentially surpassing $100K in 2025. Additionally, Senator Cynthia Lummis emphasized that the new government plans to build a strategic Bitcoin reserve, signaling further support for the cryptocurrency’s growth and stability in the coming years. Crypto market participants are hopeful about a bright future.

See also

NEWS

Price analysis 5/3: ADA, AVAX, SHIB, XRP, SOL, ETH, BNB, XRP, TON, and

Senator Cynthia Lummis has revealed plans to create a national Bitcoin reserve, signaling her strong support for incorporating cryptocurrency into the country’s economic framework. This move highlights her vision to strategically position digital assets within the nation’s financial future.

Samson Mow from Bitcoin firm JAN3 believes Trump’s victory could drive Bitcoin adoption across the country. This view aligns with Trump’s pro-crypto stance throughout his campaign, where he made significant promises, including making the US the “crypto capital of the world,” firing SEC Chair Gary Gensler, and ensuring the nation retains its Bitcoin holdings. Trump also pledged to establish a clear regulatory framework for the crypto industry, all of which could potentially shape the future of cryptocurrency in America.