Bitcoin rose nearly 40% in November, approaching $100,000 | Wilnesh News

Bitcoin’s price is tracking one of its best months of the year after former President Donald Trump’s election victory sent the price continuing to set new records throughout the month.

According to Coin Metrics, Bitcoin is expected to rise 38% in November, which will be the best month for November since February, when Bitcoin rose 45% after the launch of the Bitcoin Spot ETF and is on the verge of setting a new record ’s first new record.

During the session, Bitcoin last rose more than 3% to $97,845.00. Coin Library flat while bitcoin proxy micro strategy and Mara Holdings rose 4% and 6% respectively.

In November, investors priced in a second Trump term as president. During his re-election campaign this year, he sold himself to Americans as a candidate who would lead the cryptocurrency industry out of a dark period that for many was defined by a lack of clear regulation of digital assets and securities and regulators. defined by mandatory regulatory methods.

Trump’s victory sent the price of Bitcoin to just a few hundred dollars shy of the highly anticipated $100,000 milestone. While another Trump term is expected to add another layer of legitimacy to the young cryptocurrency industry, it also acts as a macro catalyst, meaning larger budget deficits, potentially higher inflation, and the dollar’s ​​international role changes – all of which will have an impact on the cryptocurrency industry.

Bitcoin ETFs led by BlackRock’s popular IBIT fund saw strong inflows following the election, including their largest-ever one-day inflows, initially offsetting profit-taking selling by long-term holders at new highs pressure. During the same period, Bitcoin ETF options began trading, ushering in a new way of trading and speculating on Bitcoin prices.

Bulls expect the price of Bitcoin to reach $100,000 by the end of 2024 and possibly double by the end of 2025. Will Live In 2024 The coin has largely been de-risked from a regulatory perspective, with little uncertainty about how it will trade or its role as digital gold, with investors relying on its fundamentals to continue pushing higher price.

Specifically, Bitcoin prices are expected to surge due to a reduction in Bitcoin supply following this April’s halving, coupled with growing institutional and state and national demand for Bitcoin as a treasury reserve asset. Bitcoin’s cycle peak usually takes at least a year after the halving.