On the day of the presidential election in the United States, the rate of the most important cryptocurrency – Bitcoin – briefly rose above $ 14,000. This is evidenced by the site data CoinDesk tracking the value of cryptocurrencies on different exchanges.

Bitcoin climbed above $ 14,000 for the second time in less than a week.  So much cryptocurrency hasn't cost since January 2018

At 1:19 on November 4, the rate jumped to a peak value of $ 14,060.67. This is the second time in the past five days, Bitcoin conquers the $ 14,000 mark – on October 31, the rate also briefly exceeded this value. Prior to that, Bitcoin hasn’t climbed above $ 14,000 since mid-January 2018. The cryptocurrency has remained stable over the past few hours, trading in the $ 3700- $ 3900 corridor. Right now – at the time of this writing – (08:54 Kiev time) the course is $13,829.71.

It is noteworthy that the new leap coincided with the US presidential elections. Last time, the situation was the same: in November 2016, the Bitcoin rate rushed up and from $ 700 the cryptocurrency eventually rose in price to $ 20 thousand by mid-December 2017, after which there was a sharp collapse. Of course, it is far from a fact that this time the situation will repeat itself.

One of the drivers of the current growth of Bitcoin is the recent decision of PayPal – the owner of an international payment system allowed users in the United States to sell and buy cryptocurrency.

As it usually happens, other major cryptocurrencies have risen in price in unison with Bitcoin.

Bitcoin climbed above $ 14,000 for the second time in less than a week.  So much cryptocurrency hasn't cost since January 2018

The total capitalization of all existing cryptocurrencies at the time of this writing exceeds $ 422 billion, of which more than half ($ 256.14 billion) falls on Bitcoin.

  • On May 11, Bitcoin experienced the third “halving”: the size of the reward for adding a new block to the blockchain decreased by half – to 6.25 BTC.
  • In Ukraine, since April 2020, the law on financial monitoring has been in effect. Among other things, he introduced a check on transactions with cryptocurrencies in the amount of more than UAH 30 thousand, as well as blocking crypto wallets and confiscating cryptocurrency for violations.
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