The crypto-market had a interesting week, like most financial markets. The US election last Tuesday sparked a wave of volatility that was also felt in Bitcoin and Litecoin. But the initial impact was soon negated as prices took a U-turn and erased the gains.
Bitcoin U-Turns on Trump Victory
The US election brought a surprising winner last Tuesday. Despite what the polls were suggesting, Donald Trump will be the new US president. This surprise result initially led to a shock risk-off mode in markets. We saw the Yen rallying, the SP500 crashing by 5% and Gold and Bitcoin moving higher. Prices hit a high of $729 dollars on November 9th right after the election results.
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