Crypto Market Surges After Trump's Win: Bitcoin and Ethereum Rally

user avatar

by Giorgi Kostiuk

2 years ago

Cryptocurrencies are experiencing significant growth amid recent political events in the US. Bitcoin and Ethereum are in the spotlight, showing a steady rise.

Bitcoin and Ethereum Records

Following Donald Trump's election victory, Bitcoin (BTC) soared to a record high of $99,655. However, Bitcoin's market dominance declined from 61.53% to 58.22%. Meanwhile, Ethereum (ETH) surged over 5% to surpass $3,636, boosting the prices within its ecosystem. Ethereum Name Service (ENS) skyrocketed by over 44% today, while Ethereum Classic (ETC) climbed 13.73% to $33.25.

Impact on Ethereum Classic

Ethereum Classic is in a significant accumulation zone and shows a steady increase. Historical data analysis indicates that ETC often consolidates in these zones before notable rallies. In 2017 and 2021, similar periods preceded jumps of 532% and 732%, respectively.

Potential for Future Rallies

ETC's current price of $33 is nearing the critical resistance level of $40. Breaking through could ignite further rallies, potentially reaching $300, which marks a 260% increase from current prices. However, investors should be aware of risks associated with market volatility and external factors.

The cryptocurrency market is experiencing a wave of optimism in the wake of political changes. Despite potential risks, the current position of Ethereum Classic and other altcoins presents substantial investment opportunities.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Richard Heart Detained in Istanbul Linked to Finnish Tax Investigation

Richard Heart, founder of HEX and PulseChain, has been detained by Turkish authorities in connection with a Finnish tax investigation.

user avatarJacob Williams

TD Cowen Increases Strive's Share Price Target Amid Bitcoin Holdings Surge

TD Cowen analysts raised Strive's share price target from 44 to 56 due to significant expansion of Bitcoin holdings to 35,595 BTC, noted in a research update on October 16.

user avatarZainab Kamara

Tether Invests in AI Infrastructure Startup AIsa

Tether has invested in AI infrastructure startup AIsa, contributing to its total funding of over $9 million to support autonomous AI applications.

user avatarSon Min-ho

Taiwan Restricts Access to Coinbase and Kalshi Ahead of Elections

Taiwanese authorities have restricted access to Coinbase and Kalshi websites due to concerns over election betting.

user avatarTando Nkube

Strategy Proposes Daily Dividends for STRC Preferred Stock

Strategy has conditionally declared daily dividends for its STRC preferred stock for November 2026, pending shareholder approval.

user avatarKofi Adjeman

Ripple Prime Expands Institutional Trading with New Derivatives Access

Ripple Prime introduces access to perpetual derivatives referencing traditional assets for eligible institutional clients.

user avatarNguyen Van Long

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.