CandleFocus Why Bitcoin Will Soar Above Its Fresh Record: Van Straten
2024-11-09
Author: Content Editor
Bitcoin (BTC) reached a new all-time high of over $77,000 on November 8, driven by optimism in the crypto industry about Donald Trump winning the U.S. presidential election. Other cryptocurrencies, such as Ethereum's ether (ETH), are also surging, with ETH surpassing $3,000 for the first time since August. Despite hitting new highs, Bitcoin continues to rally, breaking through previous records. The current rally is depicted as strong and likely to continue. Google search interest in Bitcoin remains relatively low, indicating that market euphoria has not yet been reached. Profit-taking from investors cashing in on Bitcoin's gains has been lower compared to previous highs, suggesting that investors are patiently waiting for higher prices. Additionally, when adjusted for inflation, Bitcoin's current price is still below its inflation-adjusted record in November 2021.
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