Bitcoin and Cryptocurrencies

Why Bitcoin (BTC) Price Soared to $75,000 in Response to Donald Trump’s Victory

Traders’ and investors’ psychology (emotions and attitudes)

Image Generated with OpenAI’s DALL-E

A political event like the US presidential election is one of the main factors that affects the price of Bitcoin (BTC) and other cryptocurrencies.

The entire cryptocurrency market went green with Bitcoin hitting a new all-time high above $75,000 on Trump’s victory in the 2024 presidential election!

Screenshot by author on Crypto Bubbles website

Screenshot by author on TradingView website

I began working in the cryptocurrency field in early 2017 and have around 7 years of experience. When analysing the price of a cryptocurrency like Bitcoin, I always focus on three types of analysis.

• Technical Analysis — This involves analysing a cryptocurrency's historical price charts and patterns to predict future price movements.
• Fundamental Analysis — This includes evaluating a cryptocurrency’s risk and…