The digital currency’s high point of $68,390 marks the highest level since July 29, and it’s currently trading around $68,015 as of Wednesday afternoon, representing more than a 60% year-to-date increase.
While Bitcoin remains 7.8% away from its all-time high of $73,798 reached in March, the market remains optimistic.
A win by former President Trump is seen by many as a positive signal for the crypto market. Trump has expressed consistent support for digital assets and even promised to create a strategic Bitcoin stockpile.
According to market analyst King, “A Trump win would be overwhelmingly positive for the crypto market,” as the former president has made repeated commitments to support the digital asset industry.
Kamala Harris Speaks Out
Following Trump’s pro-crypto stance, Vice President Kamala Harris also voiced her intention to support a regulatory framework for the cryptocurrency sector.
Speaking as part of her “Opportunity Agenda for Black Men,” Harris expressed that she aims to create a friendlier environment for the industry. This signals that the Democratic campaign is seeking to embrace digital assets more than the current Biden administration. She has pledged to protect crypto assets, aiming to connect with Black male voters.
Current Bitcoin Details
Bitcoin’s recent gains are supported by seasonal trends and the broader rise in crypto assets. Coinbase Global Inc.’s bonds have also rallied this week, reflecting confidence in the market.
