Bitcoin hits all-time high as Donald Trump wins US election
Bitcoin, the world's most popular cryptocurrency, has reached its all-time high after Republican candidate Donald Trump won the 2024 US presidential election, which was the preferred candidate of the world's most liberal voters, and what translates to them as good news, sent the price of Bitcoin to its highest levels ever.
This new record for Bitcoin shows that the public still has a broad interest in the cryptocurrency world, which celebrated the victory of Donald Trump, the American candidate preferred by this target audience. If the previous ceiling was at $73,738 so far, with the latest international news, the trading value of Bitcoin has increased to over $74,000, a figure that no other cryptocurrency has ever come close to.
Binance, one of the most popular cryptocurrency wallets, was also quick to comment on the matter, saying, “Bitcoin’s rise to this new record is a testament to its resilience and attractiveness as a store of value,” showing that the cryptocurrency sector still has room to grow and remains a very attractive market for both high net worth and small investors.
The cryptocurrency world has been a market of some interest among the most avid investors for over a decade, and from the very beginning, Bitcoin has been the leader in this space, a cryptocurrency like no other, and no other cryptocurrency has ever been comparable to it. But against any other currency in the world. That is why many companies now accept Bitcoin and other cryptocurrencies as a currency for exchanging products and services.
Today, there are many investors who are tempted by the potential benefits of investing in cryptocurrencies. However, it is also important to emphasize that this market does not have any kind of regulation. For many, this will be seen as an advantage, as it is the “freest market” possible, but this often leaves many investors who trust the performance of the currency that later ends up collapsing.
On the other hand, an unrestricted free market also means that anyone can create a cryptocurrency or encourage users to invest in it. Consequently, this has also attracted scammers who have, on numerous occasions, taken all the value invested in their cryptocurrencies, leaving all those who tried to find benefits from their investments in a precarious position. Therefore, while the brilliance of its success is seen on the one hand, the threats of collapse, or outright fraud, also appear on the other.