The Bitcoin price has surged past $76,000 and is still eyeing new highs as US Vice President Kamala concedes defeat to Donald Trump. This price rally to new ATH comes just hours after the flagship crypto surpassed its previous ATH of $73,000, rising to as high as $75,000.
Bitcoin Price Hits New ATH As Kamala Harris Concedes
The Bitcoin price surged past $76,000, marking a new ATH on the same day as the flagship crypto had earlier rallied to $75,000 on the back of Donald Trump’s victory in the US presidential elections. This recent rally past $76,000 came as the Democratic presidential nominee Kamala Harris conceded to Trump.
The market looks to be pricing into this development, considering that it all but guarantees that Trump will become the next US president. Kamala’s concession is mainly significant as she will certify the presidential election results in her capacity as the US Vice President.
Therefore, her conceding indicates that she will gracefully certify the result once the time comes, which is bullish for the Bitcoin price as this will historically usher in the first pro-bitcoin US president.
The flagship crypto will likely keep hitting new highs from here on, as this marks the next leg of the bull run. Per a CoinGape analysis, BTC predictions suggest that the crypto will also likely never return to pre-election levels. Historically, the flagship crypto has also never gone below its price on the US election day following the aftermath of the elections.
A Rise To $100,000 Before Trump’s Inauguration
According to CNBC, multiple analysts predict that the Bitcoin price could reach $100,000 before Donald Trump’s inauguration, especially if he delivers on his pro-crypto campaign pledges. As part of his promise, the US president-elect has pledged to establish a national Bitcoin stockpile and fire the US SEC Chair Gary Gensler on his first day in office.
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