As a seasoned analyst with over two decades of experience in financial markets, I’ve witnessed my fair share of market fluctuations and trends. The recent surge in Bitcoin’s price to a record high of $93,874 is an event that catches my attention, not only because of its magnitude but also due to the potential implications for the broader financial landscape.
The price of Bitcoin recently reached a new record high of $93,874 on the Bitstamp exchange.
As per the latest figures from CoinGecko, the market value of the foremost cryptocurrency has soared to a staggering $1.85 trillion.
Bitcoin is now up by more than 33% during this November after adding 11% in October.
Jesse Colombo, a well-known trader, has pointed out that the leading cryptocurrency appears to be breaking free from its triangle formation as seen on the four-hour graph at present.
If the current trend continues, Bitcoin could potentially reach the highly anticipated $100,000 mark, as suggested by Colombo’s analysis.
Currently, Bitcoin appears to be surging beyond its four-hour chart triangle or pennant formation. If this breakout persists, we can expect rapid escalation towards $100,000 and potentially even higher prices. #BTC #IBIT
— Jesse Colombo (@TheBubbleBubble) November 19, 2024
The most recent Bitcoin price uptick comes following the launch of spot ETF options in the US.
According to U.Today’s report, Mike Novogratz, a well-known figure in the crypto world, characterized the launch of these new options as a significant change or transformation in the way things are typically done within the crypto industry.
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2024-11-19 21:53