On November 6th, COINOTAG News reported that Bitcoin has surged to a remarkable new high of over $75,000, surpassing its former peak of approximately $73,000 recorded in March. This meteoric rise coincides with shifting political sentiments, particularly ahead of the upcoming elections. As highlighted by The New York Times, although pivotal state results remain pending, the likelihood of former President Trump’s victory has climbed to nearly 90% on a notable cryptocurrency betting platform.

In recent years, the Biden administration has intensified efforts against securities infractions within the crypto sector, raising questions about the industry’s sustainability in the U.S. As part of his campaign promises, Trump has pledged to halt these regulatory advancements, aiming to position the U.S. as the “cryptocurrency capital of the world.” Analysts speculate that should Trump secure a win, Bitcoin’s value could potentially escalate to between $80,000 and $90,000.