Bitcoin reaches new record high above $87,000 following Trump election victory

Bitcoin has reached a new record high, surpassing $87,000 for the first time. This surge follows Donald Trump's recent election victory, with bitcoin rising over 28% in the past week. The rally is part of a broader increase in cryptocurrency investments. Trump's election is seen as favorable for the crypto industry, as he has expressed support for cryptocurrencies and promised regulatory changes. His campaign accepted crypto donations, and he aims to position the U.S. as a leader in the crypto space. Despite the gains, experts caution about the volatility of cryptocurrencies. Bitcoin's price can fluctuate dramatically, and past trends show significant risks for investors. The energy consumption of bitcoin mining also raises environmental concerns, particularly regarding its reliance on fossil fuels.