The Bitcoin rate once again reached an all-time high, exceeding $84 thousand, according to data from Coingecko and Binance. In the last 24 hours, the cryptocurrency has risen in price by almost 6%.
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At the daily high, Bitcoin was worth $84,040. At the time of this publication (18:46 Moscow time), the token was trading at $83,922, increasing by 5.2% in 24 hours.
The price of cryptocurrencies has been actively growing since the day of the US presidential elections, in which the Republican candidate Donald Trump won. On November 10, the price of Bitcoin exceeded $80 thousand for the first time; the next day, the token surpassed $82,000;
During the presidential campaign, Trump promised to make the United States the “crypto capital of the planet” and also create a “strategic national reserve of bitcoins.” On his social network Truth Social, the politician stated that he has a “very positive” attitude towards cryptocurrency companies and that the United States should become a leader in this area.
Trump’s support for billionaire Elon Musk, who is a popular figure among cryptocurrency enthusiasts, is also having a positive effect on trader sentiment, Arisa Toyosaki, co-founder of crypto derivatives service provider Cega, told Bloomberg. In July-September, Musk made seven contributions to Trump’s presidential campaign, totaling nearly $75 million.
Bernstein analysts expect the price of Bitcoin to reach $200,000 by the end of 2025. “This is a conservative forecast,” said Gautam Chhugani, head of digital assets at Bernstein.
Author:
Timur Batyrov
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
