Bitcoin: With the return of the newly elected President of the United States Donald Trump to power, the cryptocurrency market has seen a huge surge. In this cryptocurrency asset, the cryptocurrency that is seeing the highest growth is Bitcoin. The price of Bitcoin has reached close to $80,000 and this jump has happened in just 3-4 days. On Wednesday itself, the rate of Bitcoin had come close to $75,000. 

How was the price of bitcoin today

In cryptocurrency, the price of bitcoin has jumped by 4.3 percent today to $79,771 per coin. Its rate in Singapore had reached close to $79,000 at 2.05 pm. According to Bloomberg report, the prices of Cardano and Dogecoin have also reached a considerable height.

Donald Trump won the election this week

Donald Trump showed his prowess in the US presidential election this week and by winning the election, he cleared the way for the Republican Party to regain power. With this, a bumper upward trend was seen in cryptocurrency and digital assets.

Bitcoin also outperformed the returns of stocks and gold

On Thursday, the US exchange traded funds on which bitcoin is traded were seen trading with a significant jump. This year, i.e. in the year 2024, the price of bitcoin has climbed by about 90 percent. Due to strong demand from ETFs (exchange traded funds) and continuous reduction in key interest rates by the US Federal Reserve, the rate of bitcoin is on a continuous rise. It has even surpassed the returns of safe investments like stocks and gold.

Bitcoin is crossing all-time high every day

Even before Donald Trump was crowned in the White House, the price of bitcoin has reached such a high that it is crossing the all-time high every day. Even before Trump's arrival, the price of cryptocurrency had started going skyward. The main reason for this is that the rates of bitcoin and other virtual assets had already started rising on the basis of the expectation of the support that digital assets will get or are going to get with Trump's arrival.