Bitcoin rally cools after more than 30% jump since Trump victory
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Bitcoin's price surged by approximately 31% following Donald Trump's election victory on November 5, 2024, reaching a record high of US$89,968 on November 12, 2024. As of November 13, 2024, it was trading at US$87,940. Trump has promised a supportive regulatory framework for cryptocurrencies and plans to establish the US as a global crypto hub. Despite the optimism, analysts caution that significant gains may already be priced in. Dogecoin, influenced by Elon Musk, also saw a price increase, doubling in value recently. Market analysts note that upcoming US inflation data could impact the Federal Reserve's interest rate decisions, affecting riskier investments like crypto.
#Bitcoin #Trump #Cryptocurrency #Dogecoin #MarketAnalysis #UsElections #Inflation #Investments #CryptoRegulation #ElonMusk
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