Cryptocurrency News:
As Donald Trump secured a second presidential term and the U.S. election showed a landslide victory for Republicans, cryptocurrency values surged into Wednesday.
Bitcoin continued its overnight ascent, reaching a fresh record high of $76,000 on Wednesday. By 2025, analysts predict that bitcoin will reach $100,000.
Bitcoin miners and cryptocurrency stocks surged over the day. Following the election results, Coinbase (COIN) shares surged by almost 31%. The total value of spot bitcoin ETFs increased by about 10%.
On Wednesday, bitcoin mining firms such as Core Scientific (CORZ), CleanSpark (CLSK), Bit Digital (BTBT), and Marathon Digital (MARA) witnessed gains ranging from 10% to 23%.
Cryptocurrencies Price
Following the election results, Bitcoin reached a new high of $76,460 on Wednesday afternoon. That was higher than its previous record high of $73,798 on March 14.
In 2023, the biggest cryptocurrency in the world saw a about 157% recovery. This year, Bitcoin has increased by almost 81%.
Late on Wednesday, Ethereum was trading at over $2,700, up 11% from the previous day. ETH remains below its top of $2,750 on October 20.
Ethereum hit a 52-week high of $4,090 in March and then increased by over 18% in 2024. The second-ranked cryptocurrency is still far behind its peak of $4,800 in November 2021.
