Bitcoin’s price surged to new heights late Tuesday before Donald Trump was projected by media outlets to win the U.S. election. The coin is now priced at $74,555, according to CoinGecko, and jumped as high as $75,358 overnight.

But crypto-friendly Trump victory aside, history shows us that the leading digital asset is actually doing what it typically does. 

The price of the biggest digital coin previously broke a new record in March, before this year’s halving in April. It was the first time that BTC had done such a thing, thanks to the influx of capital that came following the approval of 10 Bitcoin exchange-traded funds (ETFs) in the U.S. 

Late Tuesday and into Wednesday, Bitcoin continued to soar—and history shows that everything is going just as expected, based on the design of Bitcoin and how that affects miner incentives and trading demand over time.

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Author: Mathew Di Salvo