Business Desk 
Nov 06, 2024
To the delight of cryptocurrency investors and those eyeing to begin trading, Bitcoin on Wednesday rose above a new all-time high of $75,000.
The surprising spike reportedly followed the trivial upper hand indicated for Republican candidate Donald Trump in early US presidential election exit polls.
Breaking a record it set earlier, the world's most-traded cryptocurrency surged beyond $73,750. This highlights optimism surrounding the market and investor inclination.
Reports highlighted by The Economic Times suggested that Donald Trump stood victorious in eight states, while Kamala Harris won three states and Washington, D.C.
The giant cryptocurrency was trading at 8.4% higher at $75,060 as of 8:50am IST on Wednesday, with Ether following suit and rising 7.2% to $2,576.
As per industry experts, the purported inclination of Trump toward cryptocurrencies compared to Harris appears to have led bullish trend in the market.
If executed, Trump's reported plans for restricted immigration, tax cuts, and sweeping tariffs, would prompt an upward trend in inflation and bond yields than Harris' policies.
Other leading cryptocurrencies also registered noteworthy gains, with BNB rising 5%, Solana 3.5%, XRP 5%, Dogecoin 21.6%, Cardano 6.6%, Shiba Inu 10%, Avalanche 12.3%, and Chainlink 11.4%.
