Bitcoin Hits All-Time High as Trump Wins Election, SEC Chairman Faces Dismissal

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Coinotag2024/11/03 16:00

By:Sheila Belson

According to recent data from TradingView, Bitcoin has reached a new all-time high following the election victory of Donald Trump. This surge in Bitcoin’s price is echoed across the market, with numerous altcoins experiencing significant gains. However, it’s noteworthy that Bitcoin’s dominance has seen a decline, with its dominance index (BTC.D) falling by over 2% in the last eight hours, now calculated at 59.77%. This shift suggests a growing diversification among crypto investors, who may be seeking opportunities beyond Bitcoin. Furthermore, it has been reported that Trump plans to remove SEC Chairman Gary Gensler on his first day in office, which could have implications for the regulatory landscape affecting cryptocurrencies. As the market reacts to this political shift, investors are advised to stay informed of potential changes in regulatory policies that could influence market dynamics.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Crypto prices plunged over the weekend amid risk-off sentiment following President Trump’s plan to implement heavy tariffs on imported goods from Canada, Mexico and China.While most analysts agree that tariffs are negative for crypto in the short term, some argue that, alongside other catalysts, they could ultimately benefit the asset class in the medium to long term.

The Block•2025/02/03 12:00