Bitcoin Price Forecast: BTC soars to a new all-time of $75,407 as Trump wins US presidential election
Bitcoin (BTC) soared over 7% to a new all-time high of $75,407 on Wednesday as Donald Trump was elected as the 47th President of the United States, the candidate that was seen as more favorable for crypto markets due to his pro-crypto stances.
Shiba Inu Price Forecast: Looking at June high as Trump lead in US election propels crypto
Shiba Inu (SHIB) soars more than 7% on Wednesday, following the surge in the main cryptocurrencies, as former President Donald Trump takes a clear lead in the US presidential election. The technical outlook suggests a rally if the meme coin price breaks and closes above a descending trendline, bolstered by a rising long-to-short ratio that reached its highest level since October.
Crypto euphoria
The cryptocurrency market surged with excitement as its capitalization jumped 7% in just 24 hours, reaching $2.45 trillion and briefly peaking at $2.48 trillion, matching the highs seen in July. Trading volumes since the start of the day were the highest since early August and have a chance of surpassing those levels.
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