Bitcoin-coin-btc-gID_7.png@png” />
In summary
- Bitcoin breaks historical record, reaching $93,581 on Coinbase.
- Donald Trump’s victory, with favorable crypto policies, has fueled the recent rally in the broader crypto market.
- Experts such as Matt Hougan and Michael Saylor project prices of $500,000 and $100,000 respectively for Bitcoin.
Market-leading Cryptocurrency Bitcoin (BTC) has once again broken its all-time high price mark, reaching a new peak of $93,521 early Tuesday afternoon, according to data from CoinGecko. Coinbase showed an even higher value of $93,581.
This comes after an impressive BTC rally, after pro-crypto candidate Donald Trump secured re-election as President of the United States.
Bitcoin’s previous high was reached less than a week ago, when it hit $93,477 (according to CoinGecko) on November 13, before falling to $87,300 in the following 24 hours. Since then, the leading cryptocurrency has once again surpassed $90,000 while flirting with a new all-time high.
This new peak was reached by rising 2% in the last 24 hours, registering a market capitalization of almost $1.85 trillion. With this, the Crypto Fear and Greed Index has once again recorded its highest figure of the year at 90, indicating that the market is in a state of “Extreme Greed.”
Much of this recent increase in value has been attributed to Trump’s election victory. The Republican candidate ran on a series of crypto-positive policies, from creating a strategic Bitcoin reserve to ensuring US dominance in cryptocurrency Mining.
As a result, Bitcoin hit an all-time high as soon as Trump’s victory began to take shape, albeit before the final whistle blew. On Election Day, BTC surpassed its previous March all-time high of $73,737 by rising to $74,504, and then continued to rise.
Just a few days later, Bitcoin then surpassed $80,000 on November 10, marking another all-time high, as the market buzzed about the Republican victory. A day later, Bitcoin rose above $82,000 before skyrocketing to $93,500 on November 13.
This led Bitwise Chief Investment Officer Matt Hougan to predict that Bitcoin will eventually be worth $500,000. Meanwhile, Michael Saylor—the founder and CEO of MicroStrategy, which owns $30 billion in Bitcoin—believes Bitcoin is likely to reach $100,000 by the end of 2024.
Edited by Andrew Hayward
Daily Debrief Newsletter
Start every day with the top news stories right now, plus original features, a podcast, videos and more.
For the Latest Crypto News, Follow ©KeynoteUSA on Twitter Or Google News.
Disclaimer: Please note that the information provided on this page is for News purposes only and should not be considered investment or trading advice. ©Crypto.keynoteusa.com strongly recommends that you conduct independent research and/or consult with a qualified professional before making any investment decisions.
