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Bitcoin and Ethereum rally as Trump election victory fuels largest monthly gains since February

November 29, 2024Updated:November 29, 2024No Comments2 Mins Read
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Bitcoin and Ethereum rally as Trump election victory fuels largest monthly gains since February
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Bitcoin and Ethereum are on monitor to submit their most vital month-to-month beneficial properties since February, fueled by market optimism following Donald Trump’s election win.

Information from CoinGlass highlights November as one among Bitcoin’s strongest months this 12 months. The flagship crypto has surged over 38%, marking its second-best month-to-month efficiency in 2024 after February’s 44% rise. This rally has pushed Bitcoin close to the $100,000 landmark and cemented its standing within the broader monetary business.

Bitcoin and Ethereum rally as Trump election victory fuels largest monthly gains since February
Bitcoin Month-to-month Returns (Supply: CoinGlass)

Ethereum has additionally mirrored Bitcoin’s upward momentum. The second-largest crypto has jumped by 42% this month, pushing its worth above $3,500.

Ethereum Monthly ReturnsEthereum Monthly Returns
Ethereum Month-to-month Returns (Supply: CoinGlass)

In the meantime, Bitcoin and Ethereum might nonetheless exceed their February milestones as two days stay in November.

Market analysts have attributed these beneficial properties to Trump’s election victory on Nov. 5. His pro-crypto insurance policies and appointments have bolstered investor confidence, driving expectations of continued development for cryptocurrencies and associated markets within the US.

Disclaimer: Our writers’ opinions are solely their very own and don’t replicate the opinion of CryptoSlate. Not one of the info you learn on CryptoSlate must be taken as funding recommendation, nor does CryptoSlate endorse any venture which may be talked about or linked to on this article. Shopping for and buying and selling cryptocurrencies must be thought-about a high-risk exercise. Please do your personal due diligence earlier than taking any motion associated to content material inside this text. Lastly, CryptoSlate takes no duty must you lose cash buying and selling cryptocurrencies.



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