Bitcoin continues its powerful ascent, reaching new milestones this Monday by soaring past the $89,000 mark during U.S. trading hours. In just the last 24 hours, Bitcoin gained an impressive 8.5%, with the latest peak recorded at $89,517, according to CoinMarketCap. This rally has pushed Bitcoin’s market cap to about $1.73 trillion, surpassing the value of silver—a notable moment for the Bitcoin world.
The recent boost in Bitcoin’s price seems closely tied to the latest U.S. election outcome, with Donald Trump expecting to have a more supportive stance toward digital assets. With Republicans looking likely to take control of both legislative houses, investors are anticipating policies that could make Bitcoin and other digital currencies more accessible or accepted in the mainstream. In response, Bitcoin has jumped 28.9% in the past week, an impressive climb that demonstrates strong interest and enthusiasm among investors.
Currently, Bitcoin sits around $87,500. If you’re following this trend closely, you’ll notice we’re only about 14.2% away from the widely anticipated $100,000 mark. Given Bitcoin’s almost 30% rally over the past week, this goal feels closer than ever. With momentum building and a potential shift in the U.S. policy landscape, the next few days or weeks could bring even more upward movement.
$100,000 Bitcoin is a lot closer than most think.
— Lark Davis (@TheCryptoLark) November 11, 2024
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