Bitcoin Sets New All-Time High

Who hasn’t heard of Bitcoin? And if you have, then you understand at least one thing: it’s more than just a currency; it’s a symbol. A symbol of hope, fear, and… big money. Today, that symbol has once again broken its own record, reaching $75,407 on Binance, the world’s largest crypto exchange. On the morning of November 6, amid U.S. election day, Bitcoin started at around $68,000 and then, as if recalling its best days, surged to this new all-time high.

Political Background: Trump and Crypto Optimism

While political battles unfold in New York and Washington, crypto investors are rejoicing. Early election results hint at the possible return of Donald Trump to the White House. Trump, a strong supporter of the crypto industry, not only accepts Bitcoin donations for his campaign but also promises to push the crypto agenda at the highest level. His ambitious plan includes creating a national Bitcoin reserve and replacing Gary Gensler, the SEC chair whom many crypto enthusiasts believe has hindered clear regulation and broader acceptance of crypto.

What Does This Mean for the Crypto Market?

Bitcoin’s record-setting rise has acted as a catalyst for the entire crypto ecosystem. Following BTC’s surge on November 6, Ethereum rose to $2,596 (+6%), Cardano climbed by 9% to $0.3618, and Solana shot up 15% to $188. Even meme coins like Dogecoin joined the rally with a 30% increase, while Shiba Inu gained 12%. This renewed growth has even piqued the curiosity of crypto skeptics, who now wonder: could this be more than just hype—perhaps even an economic revolution?

What’s Next?

While some anticipate further gains and set targets of $90,000 for Bitcoin should Trump win, others remain cautious. Analysts from Bernstein hint at the risk of a major correction to $50,000 if Kamala Harris becomes president. This polarized outlook only fuels the interest in cryptocurrencies.

Today, Bitcoin is more than a digital coin; it’s a litmus test for economic change. With every rise and fall, global finance experiences a mini-crisis or a celebration. One thing is clear: when crypto surges, the world starts to feel both nervous and hopeful. The question is, how long will this climb last, and what lies ahead?

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