Bitcoin Unstoppable As It Hits $84K
Bitcoin has just reached a new all-time high price of $84,000 per coin, continuing to break its previous record in consecutive days since the end of the US elections.
The world’s leading cryptocurrency has jumped nearly 23% since the re-election of former U.S. President Donald Trump, who's voiced his support for establishing a Bitcoin strategic reserve, as well as for potential regulatory reforms that could lead to a broader crypto adoption.
The growing price of Bitcoin is also linked to massive investments from major institutional players like Blackrock, with hedge funds, financial institutions and asset management firms channeling vast amounts of capital into the market.
This, and other big factors, have triggered extremely high levels of enthusiasm, with the market showing the most bullish sentiment of an already strong year, in which Bitcoin has risen more than 120%.
The buzz around crypto is once again rocking the world, as new and existing investors are participating and reinforcing the price movements across the crypto market.
This can be clearly observed in sudden and record rises of other popular cryptocurrencies like Ethereum (up by 33% in the last week), and even altcoins like Dogecoin, which is up by a staggering 100% in the same period.
With Bitcoin continuing to break records on a daily basis, some analysts are now predicting a $100,000 price before the end of 2024, while others still warn of potentially high volatility in the months ahead.
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