Bitcoin (BTC) Price Surges Past $76,000 for the First Time Ever, BTC Dominance Nears 50%

Bitcoin (BTC) price continues its upward surge, surpassing $76,000 for the first time ever. The $76,000 mark is a new all-time high and nearly $3000 above the previous all-time high of $73,737

Bitcoin price news: BTC hits new all-time high above $76,000 after Donald Trump's reelection

Bitcoin price continues its upward surge, hitting a new all-time high of $76,243 on Monday, according to CoinGecko data.

The new high comes after months of anticipation and is nearly $3,000 above the previous all-time high of $73,737, which lasted for months.

As previously reported by Cointelegraph, Donald Trump's reelection was viewed as a strong bullish signal among the global crypto community.

During his campaign, Trump strongly aligned himself with the crypto community, endorsing Bitcoin and promising to set up a strategic Bitcoin reserve for the United States if elected.

Trump's gimmicks with the crypto community earned him the moniker "The Crypto Candidate" and saw him promising to ensure that the United States leads the global charge on cryptocurrency.

According to CoinGecko data, Bitcoin hit its new all-time high of $76,243 13 hours ago and has cooled down to $75,070 at the time of the report, dropping by 1.3%.

Michael Saylor, chairman of Microstrategy, the largest corporate holder of Bitcoin, and a renowned Bitcoin advocate, stressed the significance of a pro-Bitcoin candidate sitting at the White House.

Saylor shared his thoughts as regards Donald Trump winning with his community of 3.6 million X followers.

“We have a #Bitcoin President.” Michael Tweeted

Saylor, who was also a keynote speaker at the Bitcoin Conference in Nashville with Donald Trump, has always stressed the intrinsic value of digital assets and the many advantages they have over physical assets like gold.

110,615% surge in 11 years

Going by Bitcoin's current price at the moment, the primary crypto asset has surged by 110,615% since 2013.

This means that a $100 investment in Bitcoin in 2013 is currently valued at over $1 million.

Bitcoin is showing no signs of slowing down at the moment, and industry watchers and investors all expect the price rally to continue.

Ethereum and other top altcoins also going up

Ethereum, the second-largest crypto asset by market capitalization, is also experiencing an upward swing.

The crypto asset is currently exchanging hands for $2,823, surging by 7.5% in the last 24 hours.

Other top crypto assets constituting the top 10 list of coins by market cap also surged in price.

Dogecoin jumped more than 11%, while Shiba Inu was up over 7% in the same period. Solana also experienced an increase of 12%.

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