Bitcoin surged closer to the milestone of $90,000 on Tuesday 12th November 2024, reaching a new high of $89,640 during early morning trading. The cryptocurrency market is experiencing a surge in optimism as investors increase their expectations in the wake of Donald Trump’s recent victory in the US presidential elections.
In the past 24 hours, the most prominent cryptocurrency has experienced a remarkable increase of approximately $8,600, or 11 percent. Bitcoin is anticipated to surpass the $100,000 threshold in the near future, according to market analysts and enthusiasts.
Currently, the price of Bitcoin is $89,340, which is indicative of the ongoing confidence of investors.
Other significant cryptocurrencies have also been affected by the favourable trend. Trading at $3,337, Ethereum experienced a 4.8 percent increase. The token associated with the decentralised finance project Polygon gained approximately 3 percent, while Solana experienced a 5.56 percent increase. In the interim, Dogecoin experienced a substantial increase of 25%, which serves as an additional indication of the cryptocurrency market’s generally optimistic outlook.
With Bitcoin on a path of new price discovery that began last week, experts anticipate these upward trends will continue throughout the remainder of the year.
