Bitcoin has reached a historic milestone, achieving a market capitalization of $1.6 trillion. This increase in value came at the same time that Bitcoin's price reached its all-time high (ATH), which was about $81,270, indicating a significant surge in both price and market capitalization, reflecting growing interest in the crypto industry.
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This all-time high coincides with institutional investors' increased interest in the cryptocurrency industry. The rise in Bitcoin's price is ascribed to a variety of factors, including favorable legislative developments and rising usage of Bitcoin as a store of value.Donald Trump's presidential triumph has also functioned as a spur for Bitcoin's price increase, as he is well-liked by the cryptocurrency community.
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Donald Trump's victory has sparked hope about possible economic development and deregulation, which might boost the cryptocurrency business. This political shift has boosted investor sentiment, causing many to see Bitcoin as an appealing investment alternative during this transitional times.Positive economic policies and political developments combine to create a strong bullish feeling among investors. FOMO has prompted many people to invest in Bitcoin, particularly since it surpassed its previous all-time high of $73,000. This rise in buying activity resulted in massive short liquidations, driving the value upward.
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