Dollar and Bitcoin surged to a record high of $75,060 on Tuesday night as growing confidence in Donald Trump’s return to the White House fueled investor excitement in the cryptocurrency space.
This boosted expectations for fresh tax cuts, tariffs, and rising inflation.
The world’s most valuable digital asset has seen a remarkable rally, up over 7% on Tuesday alone, as markets bet on Trump’s victory.
This latest surge was no surprise to Nigel Green, CEO of deVere Group, one of the world’s largest independent financial advisory and asset management organisations, who had accurately forecast that election night volatility would lead to Bitcoin breaking its previous high.
Nigel Green had long stated that the intersection of politics and cryptocurrency would play a defining role in shaping market trends as the US election draws near.
With the Trump campaign positioning itself as the most pro-cryptocurrency in history, he foresaw that the mere possibility of his return to office would cause significant upward pressure on Bitcoin.
“We’ve said for months that Trump’s stance on cryptocurrency, combined with the uncertainty surrounding the election, would push Bitcoin to new heights,” says Nigel Green.
