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 Cache 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, caches will be stored in your inventory and can be opened with Keys.

Other news

Zcash's Impressive Market Performance and ETF Launch

chest

Zcash has experienced a remarkable price increase, gaining over 2,300% in the past year, aided by the launch of Grayscale's Zcash ETF.

user avatarLucas Weissmann

Zcash Surpasses $1,000 Mark, Achieving New All-Time High

chest

Zcash's price broke above $1,000 for the first time in nearly a decade, marking a significant milestone in its market performance.

user avatarRajesh Kumar

Trezor Implements New Security Measures After Data Breach

chest

Trezor is enhancing security measures, including anonymous delivery options, in response to a data breach affecting 67,000 customers.

user avatarFilippo Romano

Data Breach Affects 67,000 Trezor Customers

chest

A data breach at shipping provider ShipMonk has exposed personal information of 67,000 Trezor customers in the US.

user avatarEmily Carter

BAI Establishes Global Settlement Layer for AI Agents to Enhance Collaboration

chest

BAI is building a global settlement layer to enhance collaboration and efficiency among AI agents across various workflows.

user avatarTomas Novak

BAI Launches Free Access to Premium AI Models, Surpassing 133 Trillion Daily Tokens

chest

BAI has launched free access to its premium AI models, leading to a significant increase in platform activity and user adoption.

user avatarKaterina Papadopoulou

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.