The bullish momentum of the world's leading cryptocurrency was unstoppable on Sunday as bitcoin rose above $80,000 for the first time in its history.

The rally of bitcoin started after Republican Donald Trump was elected president of the United States, raising the hopes of investors that crypto market conditions in the US will become more favorable in the years to come as he pledged to end US President "Joe Biden’s war on crypto."

Bitcoin jumped 4.28% at 9:22 am ET to sell for $80,002.