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Analyst: Bitcoin's breakthrough to $77,000 may be due to the optimistic sentiment in the crypto industry towards Trump's election victory

Analyst: Bitcoin's breakthrough to $77,000 may be due to the optimistic sentiment in the crypto industry towards Trump's election victory

Bitget2024/11/10 04:23
BTC-0.24%

CoinDesk senior analyst James Van Straten believes that even after the first breakthrough of $77,000, the price of Bitcoin seems likely to continue soaring. The breakthrough of Bitcoin to $77,000 may be due to the optimistic sentiment in the crypto industry about Trump's election victory. Interestingly, Bitcoin was not sold off but broke through previous highs on November 6th ($76,400), November 7th ($76,900) and November 8th ($77,200). Gold and US stocks are doing the same thing - setting new highs then breaking them again. Bitcoin has been hovering between $50,000 and $70,000 for seven months; although it has now broken through this price range investors are still patiently waiting for higher prices.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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