CandleFocus Crypto Market Overview: What Happened in November?
2024-12-05
Author: Content Editor
The global crypto market had a successful Q3 of 2024, with both legacy crypto projects and meme coins seeing significant gains. November was particularly strong due to the reelection of Donald Trump as U.S. president and his favorable stance on crypto regulation. This led to triple-digit gains for many coins, driven by Bitcoin's new all-time high of $99,645. The inauguration of Trump and the potential lifting of regulations could further boost the market. Notable gainers in November included Peanut The Squirrel, Stellar, XRP, Algorand, and Cardano, while Popcat was the only coin to lose value. The bullish momentum is expected to continue in the near-term, with a possible short-term correction before Trump's inauguration. Trump's promises to bolster the BTC mining industry, lift regulatory hurdles, and create a strategic Bitcoin reserve in the U.S. have fueled the buying frenzy in the market.
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