Bitcoin hits new 34-month high above $14,200 amid US elections roller coaster

Yohay Elam FXStreet

Bitcoin has hit a high of $14,273, the highest level since January 2018, when it was rapidly descending from the all-time records. BTC/USD has been extending its gains amid the turbulent US elections.

Counting continues in no fewer than seven states that are set to determine the next president, with incumbent Donald Trump or rival Joe Biden. Stocks are on the rise on assessments that the lack of a winner is only temporary and that it would not lead to a contested election. The No. 1 cryptocurrency seems to be going catching a ride.

BTC/USD is above the previous peak seen in mid-2019, as shown in the chart below:

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

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