Bitcoin prices continued their upward trend after Donald Trump’s stunning defeat on November 8, with the cryptocurrency gaining more than $30.00 in value.
At a rally on Thursday, the cryptocurrency gained more than 10% from a previous session and surpassed $350 on Bitfinex.
The latest rally is also a significant one as the price is hovering around $380 after more than a month of gains.
The US presidential election was a huge catalyst for the cryptocurrency.
Bitcoin, which is a digital currency that was launched in 2009 and is widely used for online transactions, gained steam after a series of highly publicized attacks against bitcoin exchanges and users.
Since then, the currency has gained traction and gained in value, even surpassing the value of the U.S. dollar.
Despite Trump’s victory, the price of the cryptocurrency has remained volatile.
It has lost more than 50% in value since the election.
The price of bitcoin has risen around 40% from November 8 to now, according to the CoinDesk Bitcoin Price Index (BPI).