Cryptocurrencies are also known as coins or virtual currency.The cryptocurrency market has experienced remarkable growth, with its global capitalization reaching $3.03 trillion as of November 17, 2024. In current market situation, this is the million dollar quantion, either Bitcoin may hit $110K+ by Trump’s inauguration or not? Let’s explore.
Cryptocurrency prices surged last week following the U.S. election, which saw a significant win for Republicans and Donald Trump securing a second presidential term.
The world’s largest and oldest cryptocurrency Bitcoin’s price surged following Donald Trump’s re-election, crossing the $90,500 mark for the first time in history with an increase of 30% in last week. Bitcoin’s value has been steadily increasing over time, making it the largest cryptocurrency by market capitalization. As of today, Bitcoin (BTC) has a market capitalization of $1.79 trillion, holding a dominance of 59% in the market.
Donald Trump’s victory has been a key driver behind the recent surge in the crypto market, with Bitcoin surpassing its all-time high several times in the past few days. Over the last month, BTC has increased by 41.64%, Ethereum by 33.20%, stable coins by 3.34%, and other tokens by 32.82% as of November 17, 2024.
At present, optimistic traders are overlooking concerns about the feasibility or timeline of these promises, choosing instead to focus on the potential opportunities ahead. This includes Bitcoin exchange-traded fund (ETF) investors, who have invested $2.28 billion into the funds since Trump’s reelection on November 6.
Since Trump’s victory, “Dogecoin” a cryptocurrency supported by Trump ally Elon Musk — has also skyrocketed by 152 percent.
Pro-Bitcoin “President”
Bitcoin is soaring amid rising optimism, with market analysts forecasting that the leading cryptocurrency could hit $110,000 by President Donald Trump’s inauguration, following his recent election win. Most of the senior analytics are predict, Bitcoin may hit $110K by Trump’s inauguration. Analysts believe that the election of a pro-Bitcoin president could drive the cryptocurrency to new record levels.
Bitcoin by 2026
From a technical perspective, Bitcoin could potentially reach $300,000 by 2026, as it shows signs of breaking out of a large inverse head-and-shoulders (IH&S) pattern.
