Bitcoin surges as Trump clinches victory in US election

LONG READ... CBN CRYPTOCURRENCY BAN: What is the noise about?

Bitcoin surged above a new record high of above $75K as Donald Trump trashed Kamala Harris to emerge as America’s 47th President.

The flagship coin surged over 8 percent in the last 24 hours to reach a new all-time high of about $75,358, before retracing to around $74,461 on Wednesday, November 6, during the early London session.

The total crypto market cap surged over 6 percent to hover about $2.58 trillion at the time of this report.

READ ALSO: Bitcoin price falls as traders brace for US presidential election

As a result, more than $531 million was rekt (a situation where cryptocurrency trader is utterly ruined and destroyed due to losses from a recent price crash) from the crypto leveraged market, mostly involving the short traders on Bitcoin and Dogecoin.

According to on-chain data analysis by Lookonchain, a single whale investor lost over $74 million for attempting to short Bitcoin as it reached an all time high ATH.

By: Babajide Okeowo

The post Bitcoin surges as Trump clinches victory in US election appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

Leave a Reply

Your email address will not be published. Required fields are marked *