Bitcoin reached a new peak above $75,000 following Donald Trump's election victory, with the price hitting as high as $75,358. This surge coincides with typical post-halving behavior in Bitcoin's market. Historically, prices tend to rally after Bitcoin's halving events, which occur approximately every four years, reducing miner rewards and limiting supply. Previous halving events in 2012, 2016, and 2020 were followed by substantial price increases. CryptoQuant's Head of Research noted that following halving, it usually takes about six months for Bitcoin to hit new all-time highs. Given Bitcoin's current momentum and historical patterns, analysts forecast potential prices between $80,000 and $90,000 in November and December 2024. The election of Trump, perceived as crypto-friendly, further fuels the optimism in the market, suggesting a bullish trend for both Bitcoin and the broader cryptocurrency industry.

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