Bitcoin has topped $87,000 for a new record high. What to know about crypto's post-election rally
Business
Still, as with everything in the volatile cryptoverse, the future is hard to predict
NEW YORK (AP) — As money continues to pour into crypto following Donald Trump’s victory last week, bitcoin has climbed to yet another record high.
The world’s largest cryptocurrency topped $87,000 for the first time on Monday. As of around 3:45 p.m. ET, bitcoin’s price stood at $87,083, per CoinDesk, up over 28% in the last week alone.
That’s part of a rally across cryptocurrencies and crypto-related investments since Trump won the U.S. presidential election last week. Analysts credit much of the recent gains to an anticipated “crypto-friendly” nature of the incoming administration, which could translate into more regulatory clarity but also leeway.
Still, as with everything in the volatile cryptoverse, the future is hard to predict. And while some are bullish, others continue to warn of investment risks.
