According to Coin Metrics data, the value of the main cryptocurrency rose by more than 10 percent, exceeding the levels of $75,000. The gains increased as Trump advanced in the number of Electoral College votes, although none of the key swing states have been decided yet, according to NBC News.
Cryptocurrency exchange Coinbase rose 3 percent in after-hours trading, while MicroStrategy advanced 4 percent.
Investors expect to see trading Bitcoin Big fluctuations until a winner is declared. The victory of Vice President Kamala Harris is expected to lead to a decline in the value of Bitcoin, while traders expect a rise in the price if former President Donald Trump wins.
“The election has a huge impact on cryptocurrencies. We expect Bitcoin – and cryptocurrencies more broadly – to be volatile in the coming days… until we get final election results,” said Ryan Rasmussen, head of research at Bitwise Asset Management. According to CNBC International.
“If Trump wins, I think we will see new highs,” he added, while if Harris wins, I expect a short-term sell-off, with prices taking a month or two to recover. But in the end, either way, I think we’ll go up.”
