Mon Nov 11 06:57:15 UTC 2024: ## Bitcoin Hits Record High of $81,000 on Trump Victory and Pro-Crypto Sentiment

**New York, November 11, 2024** – Bitcoin soared to a new all-time high of over $81,000 on Thursday, fueled by a surge in optimism following Donald Trump’s victory in the US presidential election. Market analysts believe Trump’s perceived pro-crypto stance and the potential for a pro-crypto US Congress are driving the bullish sentiment.

The world’s largest cryptocurrency had already broken its previous record of $80,000 on Wednesday. Bitcoin’s rise has been particularly rapid since Trump’s win, with the token gaining over $6,000 in just three days.

“With the dust from Trump’s victory still settling down, it was only a matter of time before a run-up of some sort occurred,” said Le Shi, Hong Kong managing director at market-making firm Auros. “The perception of Trump being pro-crypto is driving this.”

Trump has made pro-crypto pronouncements during his re-election campaign, even launching his own digital currency platform, World Liberty Financial. He has pledged to make the US the “bitcoin and cryptocurrency capital of the world” and has expressed support for favorable crypto regulations.

Other cryptocurrencies, including Dogecoin, have also seen significant gains, reflecting the overall bullish sentiment in the market. “We expect buying pressure to continue for some time yet,” said Richard Galvin, founder of crypto-focused investment firm DACM. “Trump’s win has removed some of the uncertainty surrounding crypto regulation.”

Analysts believe Trump’s pro-crypto stance, coupled with a likely pro-crypto Congress, could pave the way for favorable regulations that could further boost the crypto market. This, combined with continued interest in Bitcoin ETFs and interest rate cuts by the Federal Reserve, has driven Bitcoin’s impressive 93% growth in 2024.

However, it remains to be seen if the current momentum can be sustained. The future of Bitcoin and other cryptocurrencies will largely depend on Trump’s policies and the actions of the new US Congress.

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