Bitcoin prices reached a record high of $76,444 during late trading on Wednesday, building on previous price peaks earlier in the day.<\/p>\n
The move comes as the US presidential election results filtered<\/a> in throughout the day and Donald Trump was declared the winner.<\/p>\n Trump crossed the 270 electoral vote threshold with 295 to Kamala Harris\u2019 226, with just 17 more electoral votes to be counted in Nevada and Arizona at the time of writing.<\/p>\n \u201cAmerica has elected the most pro-crypto Congress in history,\u201d stated<\/a> the country\u2019s largest exchange, Coinbase, in a post on X on Nov. 6.<\/p>\n The big Bitcoin boom has resulted in the asset gaining a solid 20% over the past month and pushing its year-to-date gains to 78%.\u00a0The asset had retreated slightly during the Thursday morning Asian trading session, pulling back to trade at $74,500 at the time of writing.<\/p>\n Crypto industry analysts and commenters were rejoicing at the Trump victory, with \u2018The Bitcoin Therapist\u2019 telling<\/a> his 140,000 X followers that \u201cTrump is going to send Bitcoin to $250K.\u201d<\/p>\n Additionally, Bitcoin has surpassed<\/a> Facebook\u2019s parent Meta in terms of market capitalization, which is currently $1.48 trillion compared to Meta\u2019s $1.44 trillion, according to CompaniesMarketCap.<\/p>\n Moreover, talk of a strategic Bitcoin reserve for the United States has been revived again, adding to the momentum.<\/p>\n The United States needs a Strategic #Bitcoin<\/a> Reserve. https:\/\/t.co\/ZKy3WMbuaz<\/a><\/p>\n \u2014 Michael Saylor (@saylor) November 6, 2024<\/a><\/p>\n\n There has also been a boom in institutional interest, as spot Bitcoin ETFs saw huge inflows on Wednesday, reversing a three-trading-day trend of outflows.<\/p>\n Bloomberg ETF analyst Eric Balchunas commented<\/a> that the BlackRock IBIT ETF just had its biggest volume day ever, with $4.1 billion traded. \u201cFor context, that\u2019s more volume than stocks like Berkshire, Netflix, or Visa saw today,\u201d he added.<\/p>\n Boomers will hear Trump and Larry Fink shilling BTC on the TV & then pull up the IBIT chart to see this pic.twitter.com\/6Ry9ZFYl1G<\/a><\/p>\n \u2014 Will (@WClementeIII) November 6, 2024<\/a><\/p>\n\n Bitcoin is not the only crypto asset moving at the moment, as Ethereum has finally awoken from its long slumber<\/a>.\u00a0ETH prices have surged 10% on the day hitting $2,872 during the Thursday morning Asian trading session. It is the highest Ethereum has traded since early August when the asset fell below $3,000.<\/p>\n The Ethereum ecosystem and underlying asset have been plagued with FUD and misinformation<\/a> over the past few months as ETH prices failed to move with the rest of the market.<\/p>\n However, it appears to have finally awoken, with analysts now changing their tunes. In a post on X to his 320,000 followers, \u2018ryandcrypto\u2019 said that the ETH rally to $5,000 will be \u201cthe most hated rally of all time.\u201d<\/p>\n the $ETH<\/a> rally to $5,000 is going to be the most hated rally of all time pic.twitter.com\/fWtFuRbcGo<\/a><\/p>\n \u2014 ryandcrypto (@ryandcrypto) November 7, 2024<\/a><\/p>\n\n The post Bitcoin Hits ATH Above $76K and Ethereum Finally Awakes, Surging to 3-Month High<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin prices reached a record high of $76,444 during late trading on Wednesday, building on previous price peaks earlier in the day. The move comes as the US presidential election results filtered in throughout the day and Donald Trump was declared the winner. Trump crossed the 270 electoral vote threshold with 295 to Kamala Harris\u2019 […]<\/p>\n","protected":false},"author":0,"featured_media":18525,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-18524","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/18524"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18524"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/18524\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/18525"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18524"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Bitcoin Booms on Trump Win<\/h2>\n
Ethereum Awakes<\/h2>\n