CandleFocus What needs to happen before bitcoin enters price discovery mode
2024-11-12
Author: Content Editor
Bitcoin reached new price records against the US dollar, reaching $89,864, surpassing its previous inflation-adjusted high of $77,975. Although the price has since dipped to under $87,600, it remains up 27% over the past week. Bitcoin's market cap also hit a new record, reaching $181.55 billion, with the overall market cap surpassing $1.72 trillion. However, Bitcoin still needs to surpass previous stock market ratio records against the S&P 500 and Nasdaq 100 to enter into price discovery mode.
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