Bitcoin surges above $80,000 following Trump's election victory

Bitcoin has surged above $80,000 following Donald Trump's election victory, marking a new high. The rally began on November 4, as Trump positioned himself as a supporter of the cryptocurrency community, promising to keep the market largely unregulated. Analysts attribute the price increase to structural factors, including the approval of bitcoin exchange-traded funds (ETFs) that have attracted significant institutional investment. Trump's election is seen as a win for the crypto industry, which has lobbied heavily for favorable regulations. While some experts express skepticism about bitcoin's long-term stability, others believe it has established itself as a new asset class. The future of the rally remains uncertain, with concerns about whether Trump will fulfill his promises to the crypto community.