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After the FED's decision to cut interest rates, Bitcoin reached a new record.
After the FED's decision to cut interest rates, Bitcoin reached a new record.

08.11.2024 10:41

Cryptocurrencies, especially Bitcoin, reached record highs following the election victory of Republican candidate Donald Trump in the United States. Bitcoin set a new record for the second time after the Federal Reserve cut its policy interest rate by 25 basis points.

The largest asset in the crypto market, Bitcoin, had reached a record high following Donald Trump's victory in the U.S. elections. Bitcoin surged above $76,956, reaching an all-time high after the Fed cut the policy rate by 25 basis points in its first meeting following the U.S. elections, and then showed a decline.

THE TRUMP EFFECT ON BITCOIN

The presidential candidate Donald Trump, who stands out with his pro-crypto rhetoric, gaining momentum in the U.S. elections has boosted Bitcoin.

Trump's victories in high delegate states on November 5 also led to rapid increases in the crypto asset markets.

Bitcoin's rise of over 60% in 2024 has outperformed traditional assets like global stocks and gold.


 
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