Bitcoin sets new all-time high amid US election
Bitcoin sets new all-time high (Illustrarive photo: pixabay.com)
The price of Bitcoin (BTC), the most popular cryptocurrency, has surpassed the $74,000 mark. This record-breaking update is attributed to the market's reaction to the upcoming US presidential election, reports Binance.
It is noted that Bitcoin's 9.26% rise over the past 24 hours has allowed the cryptocurrency to set a new all-time high (ATH), exceeding $74,000.
According to market data, this occurred at 03:07 UTC (Coordinated Universal Time).
According to the latest data from Binance Market Data, the price of Bitcoin (BTC) briefly reached $75,000, marking an increase of more than 10% over the past 24 hours.
Currently, Bitcoin is trading at $74,831.99, with a 10,01% increase over the last 24 hours.
Bitcoin's price has set a new record (photo: screenshot from binance.com)
Additionally, it is reported that Ethereum (ETH) has surpassed $2,600, with an 8.02% increase over the past 24 hours.
Earlier, the investment fund Pantera Capital predicted that by 2028, Bitcoin's price could rise sharply, with this increase expected to occur due to the halving event.
Cryptocurrency prices often jump, reacting to various political, economic, and social events around the world. The current US presidential election is no exception. By the way, Bitcoin also set a new record following Elon Musk's statement about investing in cryptocurrency back in 2021.
