Bitcoin tops $82,000 as crypto euphoria over Trump win shows no sign of waning
Bitcoin hit another high on Monday, as the rally in cryptocurrencies continued following President-elect Donald Trump's election win.
Bitcoin hit another high on Monday, as the rally in cryptocurrencies continued following Donald Trump's election win.
By 6:58 a.m. ET, bitcoin was trading 3.6% higher at $82,216, according to Coin Metrics. It comes after the flagship cryptocurrency touched $80,000 on Sunday for the first time ever.
Other coins also got a boost, with ether up 1.8%, trading around $3,204 after topping $3,000 over the weekend. The decentralized finance token tied to Cardano ticked 2.7% higher, while payments coin XRP took a breather.
Memecoins dogecoin and Shiba Inu coin also continued to rise, up almost 11% and 5%, respectively.
Bitcoin touches $80,000 on Sunday for the first time ever.
Susannah Streeter, head of money and markets at investment platform Hargreaves Lansdown, noted that crypto's march higher comes amid "euphoria" in the market unleashed by Trump's presidential win last week.
"His pledge to go all in on crypto has sent Bitcoin to fresh heady heights," she said in a research note Monday.
"He's made an about turn on supporting the industry and is now vowing to turn the U.S. into the crypto capital of the world. Bitcoin speculators are betting on a more clement regulatory environment, and have expectations that the authorities may build up a reserve crypto fund, helping lift ongoing demand."
On the campaign trail, Trump made a slew of promises to the crypto industry, including making the U.S. the "crypto capital of the planet" and insisting that all bitcoin should be mined in the country.
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