The price of Bitcoin on Wednesday, November 6, reached a new historical high, according to data from Coinmarketcap.
As of 9:25 AM Tashkent time, one token paired with the stablecoin USDT is valued at $74,820—an increase of 9.5% in just one day. The rate on the Binance cryptocurrency exchange hit $75,000.
The majority of the gains occurred after 5:00 AM Tashkent time. By around 5:55, Bitcoin reached its previous peak of $71,400, which was first achieved in March.
Experts suggest that the price increase is linked to expectations of Donald Trump winning the U.S. presidential election, having served from 2017 to 2021. However, they do not rule out sharp fluctuations in the price in the coming days until the final results are announced.
“If Trump wins, I’m confident we will see new records,” said Ryan Rasmussen, chief analyst at Bitwise Asset Management. “If [Kamala] Harris wins, I anticipate a significant sell-off, after which it will take one to two months for prices to recover.”
Additionally, several other major cryptocurrencies have also seen significant price increases. For instance, Ethereum is priced at $2,590, which is 6.8% higher than the previous day, while Solana has surged by 16.7% and is currently offered at $186.9.
The biggest daily growth was shown by the meme token Dogecoin, rising to $0.21 or 29% more than the previous day. Toncoin increased by 4.3% and is now priced at $4.82, although its rate remains below that of the previous week.
Earlier, Spot reported that the TON Wallet platform is looking for an office director in Uzbekistan.