Intra-day, BTC reached a new ATH at 75,358, according to Coingecko, temporarily going above the previous ATH from March, at 73,737. I'd still like to see that ATH maintained till "closing", but we will see... Over 7% for bitcoin is not easy to hold. Otherwise, there is time tomorrow for a decisive move. All alts are on the move too, some more than others.
At the time of writing, this is the situation:
I guess you can imagine why we see these generalized crypto pumps...
Democrats lost... badly, on all fronts (President, Senate, not sure what happened at the House of Representatives yet).
Since they had a bad history regarding enforcing actions on crypto, and Trump at least in political discourse and some actions at least seems to know what crypto is and made enough steps to get closer to this industry during the campaign, it's normal this space as a whole celebrates that he won. Whether that will be a good thing or not for crypto, remains to be seen...
We all know he's a wild card, but to be honest I'd rather have this one wild card instead of a sort of mass brain washing, with massive censorship, freedoms ignored, wake extremism, and so on. I don't know if this other side will be any better. It remains to be seen.
The Democrats won something too... They won future presidential elections without Trump.
But I'll leave politics for those who want to talk more about it. I'd rather not, because in the end, it's not something I prefer bringing up.
Let's focus on crypto... People say the victory of Trump was already included in the short term price action from recent months. I believe this is only partially true. Without the uncertainty of the elections - and particularly that one candidate seemed to be pro-crypto and the other anti-crypto - BTC would have made a new ATH in October easily, in my opinion.
With the elections out of the way and the allegedly pro-crypto candidate and his party winning the elections, there is no immediate stopping for BTC and then alts to chart new territories.
And I do believe there is a sort of urgency in the matter, because without BTC starting to reach for higher grounds sooner, there is less and less time for a proper alt season to unfold.
