- Bitcoin reached a new all-time high above $80K
- It immediately experienced a strong correction to $78.6K
- But it later hit $81.3 and, after another correction, is trading at $81.6K
The impact of Donald Trump’s victory continues and Bitcoin shows all-time highs, today surpassing $80K and $1.5T market capitalization.
It experienced a few significant corrections, but the bull market took it even higher to $81.3K. It is now trading at $81.6K and has a $1.6T market capitalization.
UPD: The latest data show the liquidation of shorts worth $90M over the last 24H, adding momentum to the price increase. Also, some analysts estimate that another $1.29B in short positions will be liquidated if the price reaches $85k, potentially providing an additional boost.
More on the Latest Bitcoin Dynamics
Whether you expected the growth to be so rapid and consistent or not, here’s what we’re seeing today.
Even yesterday we saw a $76K surge to $79K but did not experience any significant correction and continued to reach $80.9K.
We were met with a big correction to $78.6, but the bull market made it last only a short while and took Bitcoin to a new all-time high of $81.3.
Here, too, we experienced a correction, albeit not as strong. It started at $81.2 and later went to $81.6K, then to a record high of $81.8K, but it is back to ~$81.6K at the time of writing.
This represents an increase of over 80% since the beginning of 2024, which may not yet compare to Nvidia but has already made Bitcoin 9 the most valuable asset in the world.
Many analysts suggest that these are just the beginning of real growth and differ in estimates from $100K to $150K till the end of the year given the whole political and economic context.
Now we can see new opinions on this, namely Crypto Rover reminds us of historical data that shows that 50-60 days after the US elections Bitcoin usually sets new highs, so the price could reach $100,000 in this period.
Doctor Profit also shared his opinion:
“In the last few days 60,000 BTC were bought by retail investors, 1800 BTC was bought by BlackRock, at the same time only 450 Bitcoin are mined each day and only two million BTC are available to buy on exchanges. If we continue in this speed we will reach $100,000 by end of year.”
Conclusion
We are seeing record growth in Bitcoin, and more importantly consistent and sustained at the moment.
This is not paradoxical growth, but predicted and long-awaited by many, and historical data and current political events also speak in its favor.
Of course, even so, we should remain very careful, because such a busy market can always bring surprises. Stay tuned.
