Bitcoin is tracking for its best months since February after Trump’s re-election catapulted the flagship cryptocurrency to new records in November.
The price of bitcoin is tracking for one of its best months of the year after the re-election of Donald Trump to the White House catapulted the flagship cryptocurrency to new records consistently throughout the month.
Bitcoin is on pace to post a 38% gain for November, according to Coin Metrics, which would make its best month since February, when it gained 45% following the launch of spot bitcoin ETFs and ahead of itspitched himself to Americans as the candidate that would bring the crypto industry out of a dark period defined for many by the absence of clear digital assets regulation and the regulation-by-enforcement approach the Securities and Exchange Commission, under chair Gary Gensler, took toward crypto businesses.That victory sent bitcoin rallying to as high as just a couple hundred dollars shy of the highly anticipated $100,000 milestone.
After the election, bitcoin ETFs, led by BlackRock's popular IBIT fund, registered strong inflows — including their largest day of inflows ever at one point — initially offsetting sell pressure from long-term holders that took profits at new highs. In the same period,. While the outcome of the U.S. election boosted the price in short-term, many investors agree its impact as a bitcoin catalyst will stay behind in 2024.
2 ways to be happier at work when you feel stuck: They solve ‘99.9% of problems,' says happiness expertSpecifically, between the reduction in bitcoin's supply after this year's April halving and the growing demand for bitcoin by institutions, as well as by states and countries as a treasury reserve asset, the price is expected to soar. Bitcoin's cycle peaks usuallyMemecoin gains will fade as crypto rally presses on. Look to these instead, says Bank of AmericaU.S.
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