The Bitcoin to gold ratio surged 12% on November 6, 2024, following the victory of pro-crypto Republican candidate Donald Trump in the U.S. presidential election. This marks the largest single-day increase for Bitcoin against gold since February 2022, ending an eight-month downtrend. Analysts suggest that this shift signals a potential outperformance for Bitcoin and a capital rotation from gold to the leading cryptocurrency, supporting forecasts of Bitcoin reaching $80,000 by the year-end. This rally was influenced by a resurgence in Bitcoin's appeal amid waning bullish sentiment for gold, highlighting investor reallocations towards digital assets. The trend, as shown in trading charts, indicates a renewed upward momentum for Bitcoin, corroborating expectations for continued price increases in the crypto market in the near future.

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