On the 3rd of November, Bitcoin’s price jumped by over 2% and hit $14,000 amid the US presidential election results announcement in several states. On the day, BTC started trading at $13,550.45 and closed at $13,950.30.
The recent surge is the second time BTC would hit $14,000 in less than a week. On the 31st of October, the king coin’s price surged, crossing over $14,000 to $14,100 across major exchange platforms.
A Coinjournal revealed that some crypto analysts said the race between Donald Trump and Democratic presidential candidate Joe Biden could affect BTC positively. Interestingly, Bitcoin hit $14,000 shortly after polls were closed in some parts of the US.
Since 2018, Bitcoin has been steadily rising and is the best-performing digital asset in the crypto space since January of the same year. Regardless of the US election, BTC remains stable and currently up 0.79% to $13,789.70.
Since Satoshi Nakamoto created Bitcoin in 2009, the digital asset has been around for three elections. The first was in 2012 when BTC was trading at $12 and climbed $700 during the 2016 elections. Now, BTC has grown significantly and has increased by about 48.9% in the past 12 months.
Notably, the US presidential elections are not just the push behind the recent increases and achievements of Bitcoin. The digital asset also surged on PayPal’s announcement to begin crypto services.