Crypto Prices Jump as Trump Wins Election

Bitcoin and other cryptocurrencies saw big price increases after Donald Trump won the U. S. presidential election. Bitcoin hit a new high of over $88, 000, showing a 10% jump on Monday alone. This comes after an earlier 9% rise on Wednesday when early election results suggested Trump's win in both the electoral college and popular vote. Ether, a rival cryptocurrency, gained 30% over the past week, peaking at around $3, 250 before settling lower. Even smaller cryptocurrencies like Cardano and Dogecoin saw significant gains. Experts expect a Trump administration to be more favorable to cryptocurrencies, potentially leading to less strict regulations. Solo Ceesay, an ex-investment banker, predicts a boom in decentralized finance (DeFi) startups. Trump had promised to make the U. S. a global crypto leader if re-elected, pledging to change how assets are classified and taxed. Investors are hopeful that Trump's administration will bring clarity to crypto regulations, as shown by large inflows into crypto exchange-traded funds (ETFs) after the election. Eric Waisanen, CEO of Astrovault, believes Trump might restructure bodies like the Securities and Exchange Commission or create a new agency for asset classification.