The cryptocurrency market is pumping green on election night as Bitcoin hit an all-time high of $75,358 minutes ago. The pump is making waves as investors take entry positions to make a quick buck in the markets. Leading cryptocurrencies such as Dogecoin, Cardano, Solana, and Shiba Inu have all skyrocketed double-digits on election results day.
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BREAKING:
Donald Trump officially elected President of the United States of America. pic.twitter.com/6VO1jC4FHp
— Watcher.Guru (@WatcherGuru) November 6, 2024
President-elect Donald Trump brought in a fresh sense of enthusiasm in the markets as he is against taxes and pro-trade. Trump had promised to lower taxes and even went a step ahead saying that he would consider abolishing income tax. As the news projected a Trump victory, Bitcoin, Dogecoin, and Solana, among other leading cryptocurrencies rallied in the charts.
The cryptocurrency market and even the Asian stock market opened in the green as the election results favored Trump. Investors’ optimism soared after Bitcoin touched $75,000, and BTC is expected to soar further in the charts. This will only bring in more money into the markets and attract investors from around the globe.
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What Next For Bitcoin, Dogecoin & and The Cryptocurrency Market?
Bitcoin might surge further in the charts as new money could enter the cryptocurrency markets in the coming months. Trump has always been pro-business and closely watches the economy’s performance under his presidency. This would make investors hopeful that the top leadership cares about businesses and how they perform. An investment now has better chances of heading north as optimism is high.
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The cryptocurrency market could benefit from the development, and Bitcoin could generate profits for investors. The US stock market, along with the Asian markets, could also be in an advantageous position. Asian markets mostly move in tandem with the US market, and an upswing will only help the global financial sector. The days ahead for Bitcoin, Dogecoin, cryptocurrency, and the stock market seem promising.