New ATH for Bitcoin. November 5, 2024 will go down in crypto memories as the day when Donald Trump won the United States presidential election. … since the day, aths follow each other and are similar for bitcoin, which after briefly touching $90,000 yesterday, the price of the queen of crypto today confirms the trend and breaks through it, surpassing $92,000!
- Bitcoin hit a new all-time high as it briefly touched $92,000, confirming an uptrend that could lead to a break above $100,000.
- Donald Trump’s victory in the US presidential election and favorable economic conditions have fueled optimism that this bull run will continue.
Bitcoin On The Way To $100,000?
This is what many analysts think and what today’s trend seems to confirm as BTC seems to be consolidating around $90,000 and heading towards 91,000 92,000 Its price is also 90,962 dollars at the time of writing these few lines.
For Lennix Lai for example, from OKX, no doubt: Bitcoin could reach “well over $100,000” by the end of the year. A vision shared by the user Josh Gilbert by eToro and Pav Hundal by SwyftX, which also sees the cryptocurrency king cross that mythical bar. The reasons for this optimism? Trump’s victory, falling interest rates and increasing institutional appetite for Bitcoin ETFs.
But not everyone shares this enthusiasm. Ki Young JuCEO of CryptoQuant, expects a decline towards $58,000pointing the finger at overheated derivative activity. on his part, Tony Sycamore IG Markets remains more moderate and expects a range $90,000 to $95,000.
Bitcoin on the moon, cryptocurrencies are exploding!
And the opening of US markets appears to be a success for cryptocurrencies in general, following the optimism of institutional investors amid FOMO. In addition to bitcoin, which even hits 91,000 on some exchanges, ether, SOL, XRP, ADA, SUI… but also many memecoins, all of them are exploding green!
It’s all a matter of timing
Apart from prices, it is also the duration of this bull run that also raises questions. Historically, Bitcoin bull cycles have lasted approximately 12 to 18 months after each halving. But this time everything can be different. Mati Greenspan of Quantum Economics believes Bitcoin could continue to outperform beyond 2024, citing a bull market “that could last a long time.”
With extremely bullish fundamentals such as the growing adoption of cryptocurrencies and a more favorable regulatory environment in the United States, some as Guy Armoni from HDI fund feel free to consider bitcoin for $250,000 in 2025!
It must be said that the news brings good news. Whether it is Elon Musk who becomes DOGE minister on the US side to ensure the efficiency of the state, or whether it is Coinbase and Robinhood who announce Pepe’s IPO. So Bitcoin to $100,000 by the end of the year?
If opinions differ, one thing is certain: this bull run could have a few more surprises for us. In a context where institutional investors continue to flock and monetary policy remains accommodative, Bitcoin still appears to have a bright future ahead of it. How far this will take us remains to be seen.