Analyst: Bitcoin's break above $77,000 may be due to crypto industry's optimism over Trump's victory
According to James Van Straten, senior analyst at CoinDesk, even after breaking through $77,000 for the first time, it looks likely that the price of Bitcoin will continue to soar. Bitcoin broke through $77,000 possibly due to the optimistic mood of the cryptocurrency industry towards Trump's victory. Interestingly, Bitcoin did not experience any selling pressure, but instead broke through previous highs on November 6th ($76,400), November 7th ($76,900), and November 8th ($77,200). Gold and the US stock market are also doing the same thing, first setting highs and then breaking through them. Bitcoin has been hovering between $50,000 and $70,000 for seven months, and although it has now broken through this price range, investors are still patiently waiting for higher prices.
