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Bitcoin hit $80,000 for the first time yesterday following Donald Trump’s resounding victory in the US elections.
The cryptocurrency rose 4.5 per cent that day to reach its highest price ever recorded: the equivalent of £61,943.49.
President-elect Trump has insisted that he will make the United States “the crypto capital of the planet.”
There has been a big rally in Bitcoin since the Republican’s victory last week, reaching $75,000 on election night, with recent gains fueled by his victories in the swing states of Nevada and Arizona.
Geoff Kendrick, global head of digital asset research at Standard Chartered, predicts Bitcoin will continue to rise, with a valuation of $100,000 “easily achievable” by the end of the year.
Boost: Donald Trump has insisted that he will make the United States ‘the crypto capital of the planet’
And Russ Mold, chief investment officer at AJ Bell, said Bitcoin would “always skyrocket” if Trump won the election.
“Trump has already declared his love for the digital currency and cryptocurrency traders now have a new narrative to get even more excited about where the price could go,” he added.
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