Bitcoin has experienced a significant price increase, reaching a new high following the 2024 US presidential election. The US election on November 5, 2024, has been a positive catalyst, leading to a surge of over 12.79% in Bitcoin's value.
Other cryptocurrencies have also benefited from the generally optimistic sentiment in the market, reinforcing the bullish trend.
The recent announcement by the US Federal Reserve of a second interest rate cut of 0.25% further fueled the rally in the crypto markets, as investors see cryptocurrencies as a hedge against economic uncertainty.
This renewed interest and investment in cryptocurrencies highlight their perceived resilience and stability in times of economic shifts.
