Bitcoin (BTC) Surpasses $80,000 — a New All-Time High
- Susan SarandonOriginal
- 2024-11-11 06:28:24168browse
Fueled by President-elect Trump's victory and the stock market's upward momentum, Bitcoin surpassed $80,000 on Sunday — a new all-time high.
Bitcoin (BTC) hit a new all-time high of $80,000 on Sunday evening, continuing its remarkable rally in 2024.
The world’s largest cryptocurrency has now gained more than 400% this year, easily outpacing the stock market and other traditional assets.
A number of factors have contributed to Bitcoin’s bullish run, including the strong performance of the U.S. economy, the Federal Reserve’s easy monetary policy and increasing institutional interest in cryptocurrency.
Bitcoin’s previous all-time high was set in November 2021, when the cryptocurrency reached a price of $69,000.
However, Bitcoin’s bull market came to an abrupt end in early 2022, as a sell-off in the cryptocurrency market wiped out billions of dollars in value.
Bitcoin began to recover in the second half of 2023, and the cryptocurrency has been on a tear ever since.
Bitcoin’s price has risen by more than $20,000 in the past month alone.
Investors are now speculating that Bitcoin could reach a price of $100,000 before the end of the year.
Some analysts are even predicting that Bitcoin could eventually be valued at half of all the gold outstanding, which would put the cryptocurrency at a price of around $300,000.
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