On the night of Nov. 5, bitcoin saw a remarkable surge, breaking through the $75,000 mark as President Trump declared victory. This spike in value came as Republicans secured a majority across Congress, a development that has been widely viewed as positive for the cryptocurrency community.
President Trump’s vocal support for crypto, coupled with his criticism of the SEC’s regulatory approach, has raised hopes for a more favorable environment for digital assets. Many in the industry believe that a Trump administration would be more inclined to support innovation and growth in the crypto space.
The rapid rise in bitcoin’s price, which occurred even before the election results were finalized, highlights the role of cryptocurrencies as a real-time reflection of important global events. The market’s reaction to political developments serves as a testament to the growing influence of digital assets in the financial world.
