Analyst: Bitcoin's breakthrough to $77,000 may be due to the optimistic sentiment in the crypto industry towards Trump's election victory

CoinDesk senior analyst James Van Straten believes that even after the first breakthrough of $77,000, the price of Bitcoin seems likely to continue soaring. The breakthrough of Bitcoin to $77,000 may be due to the optimistic sentiment in the crypto industry about Trump's election victory. Interestingly, Bitcoin was not sold off but broke through previous highs on November 6th ($76,400), November 7th ($76,900) and November 8th ($77,200). Gold and US stocks are doing the same thing - setting new highs then breaking them again. Bitcoin has been hovering between $50,000 and $70,000 for seven months; although it has now broken through this price range investors are still patiently waiting for higher prices.