The crypto-bull market is running at full speed, no doubt about it. For a week now, Bitcoin (BTC) has been breaking one price record after another by wide margins. Yesterday marked a high point in this string of records: Bitcoin made a price jump even bigger than last week, when it was announced that Donald Trump won the US presidential election.

Bitcoin posted its biggest ever rise in value in a short period of time yesterday. Analysts expect that this rise may be surpassed in the coming months.

Bitcoin rises by more man $8,000

This morning, cryptonews readers could already learn that Bitcoin made an impressive jump yesterday. The price rose 10.37% in one day, from $80,427 to $88,770. This marked a wide breach of the previous all-time high of $81,800 achieved a day earlier. This rise was also Bitcoin's biggest ever jump in U.S. dollars, Alex Thorn, head of Galaxy Research, reported on social media platform X.

With a rise of $8,343, it far surpassed the previous record set on Aug. 2, 2021, during the previous bull market. It was Bitcoin's best day of the year in absolute value and only 48 days in the cryptocurrency's history have ever shown a greater percentage increase.

This morning the price peaked again at $89,940, just 11% away from the symbolic $100,000 mark that many investors have long been looking forward to.

Trump's reappearance drives parabolic bull market for Bitcoin

Since last Wednesday, when it was announced that Trump is returning to the White House, Bitcoin has already appreciated by about 30%. After more than eight months of sideways movement, Bitcoin now appears to have entered a parabolic bull market.

The prospect of Trump being inaugurated as the new president of the United States in January appears to be a major driver of recent share price movements. Trump has announced plans for a national Bitcoin reserve built from the more than 200,000 bitcoins seized. In addition, he has promised to end the restrictive measures Democrats have introduced against the crypto industry in recent years. His promise to provide clear regulations for crypto companies and investors is fueling optimism within the market.

With the $100,000 mark in sight, the main question now remains how far Bitcoin can rise this bull market.