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Trump's election shocked the Bitcoin market to push prices up
Core hints :Trump was elected as the next president of the United States in Wednesday's general election, Beijing time reported on the morning of November 10. The news jolted Jinrongshichang around the world, as many investors fled stocks and bonds and opted for

Release date:2018-10-22

Browse number:483

 Trump was elected as the next president of the United States in Wednesday's general election, Beijing time reported on the morning of November 10. The news jolted Jinrongshichang around the world, as many investors fled stocks and bonds and opted for more risk-averse assets. As a result, international gold prices have risen. But gold is not the only asset to benefit.

Bitcoin prices also rose, hitting a recent high of $738 in overnight trading. Bitcoin prices were about $726 on Wednesday morning, according to Coindsk. The price of Bitcoin was about 3 % higher than the previous day's price of 708 U.S. dollars.
However, the rise in Bitcoin prices has not affected other digital currencies. Ethereum and Rip were the second and third largest encrypted currencies in terms of market value, respectively, and prices in both currencies fell by about 2 % and 1 %, respectively.
 
The rise in Bitcoin prices suggests that Bitcoin is considered a safe haven in the face of uncertainty.
 
In the second half of 2016, Bitcoin prices were relatively stable. This is very different from the previous sharp rise in Bitcoin prices. However, over the past year, although Bitcoin prices have remained buoyant for the most part, it is still a long way from the record high of $1,200 in 2013. At the time, speculative speculation contributed to the rise in Bitcoin prices.
 
Although prices have stabilized, Bitcoin is receiving less attention, and the financial industry is focusing more on its underlying block chain technology, using this technology to create permanent, irreducible transaction records.
International gold prices rose by about 4 per cent after the election results surprised investors. The Mexican peso was the loser in this incident, and the exchange rate hit a double-digit decline. Mr Trump's protectionism is feared to affect trade with Mexico.
 

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