For the first time, Bitcoin’s
This historic surge occurred in the days following Donald Trump’s reelection as the United States President, a win that has sparked a rally not only in Bitcoin but also in other popular cryptocurrencies like Cardano
Trump’s election campaign promises to prioritize crypto leadership and establish a US Bitcoin reserve appear to have resonated strongly with the market. He also pledged to assign crypto-supportive regulators, fueling confidence among investors that crypto assets would be nurtured under his administration.
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Throughout 2024, Bitcoin has seen an 80% rise, largely driven by the Federal Reserve’s decision to cut interest rates and the demand for US-based exchange-traded funds (ETFs). Recent data from Farside Investors revealed that on November 7, Bitcoin ETFs attracted record inflows of $1.37 billion, representing investors’ bullish response to crypto-positive political changes.
Bitcoin’s rise past the $80,000 level has spurred optimism about the potential for further price increases in the coming weeks. One crypto analyst, Crypto Rover, pointed out that Bitcoin often reaches all-time highs within 50-60 days after the US elections. Based on these patterns, he projects that Bitcoin might achieve $100,000 by January 2025, should market dynamics align favorably.
Another expert, Doctor Profit, noted that over the last few days, retail investors have purchased roughly 60,000 BTC, while BlackRock has acquired approximately 1,800 BTC. Doctor Profit believes this high buying rate could propel Bitcoin to the $100,000 mark by the year’s end if sustained.
In other news, Cardano’s price has increased by more than 40% due to speculation about Charles Hoskinson potentially joining the Trump administration.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
