[Christian Harris]

Bitcoin hit a new all-time high, surpassing the $93,000 mark.

This surge was primarily attributed to post-election optimism and October’s inflation figures, which indicated a 12-month rate of 2.6%.

The cryptocurrency has now rallied for four consecutive trading days. It remains to be seen whether this upward momentum can be sustained or if a short-term consolidation phase is imminent.

During the previous session, the cryptocurrency exhibited a volatility of 8.44%, with a low of $86,220.50 and a high of $93,495.00.

Over the past 10 days, the price has increased on eight occasions, resulting in a 28.39% gain over the last two weeks.

Dogecoin also experienced a 3% uptick, likely influenced by Elon Musk’s recent appointment in the Trump administration. These market movements suggest increasing bullish sentiment towards cryptocurrencies.

Data: eToro, FactSet, Morningstar, S&P Capital IQ, ProRealTime, MarketScreener

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[BTC Ben]

I think it’s going to hit $120k by the end of year.

Institutions are favoring it over ether if you look at ETF inflows.

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[Christian Harris]

You might be right, but I think $120k by EOY might be a little optimistic.

Perhaps my mid next year after Trump has got his feet under the table?

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[Steve]

🤣🤣🤣

How many hours am I now going to lose on Stabled Diffusion Online…

(P.S. that bitcoin prediction is very very optimistic).

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[Christian Harris]

Tell me about it Steve 🤣🤣🤣

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[Steve]

Apparently creating an image of Musk whispering in Trump’s ear is NSFW!

This is the closest I could get…

🤣

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[Christian Harris]

Nice pic Steve. You weren’t joking after all 🤣🤣🤣🤣

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[BTC Ben]

We shall see. Only time will tell.

Haha love the pic.

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[Author]

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