Spot Bitcoin investment products have just seen their largest two-week outflow since their inception, indicating that despite the initial surge in institutional interest, the path to market and investor confidence may be bumpy. Notably, so far in November prices and volume have substantially increased in the aftermath of US election day. Crypto markets have surged, with https://www.cftc.gov/LearnAndProtect/AdvisoriesAndArticles/fraudadv_forex.html Bitcoin reaching a record $75K in November 2024. "He’s made an about turn on supporting the industry and is now vowing to turn the US into the crypto capital of the world," remarked Susannah Streeter, head of money and markets at Hargreaves Lansdown. "Bitcoin speculators are betting on a more clement regulatory environment and have expectations that the authorities may build up a reserve crypto fund, helping lift ongoing demand," she added. EToro is a trading and multi-asset platform that offers over 6,000 digital assets, including cryptocurrencies, to over 35 million users globally in more than 100 countries.
Bitcoin price forecast amid divergent market sentiment
Bitcoin’s price fluctuated between $59,000 and $72,000 https://www.kaspersky.com/resource-center/definitions/what-is-cryptocurrency during October, nearing its all-time high of $74,000 set in March 2024. This surge was partly driven by investor optimism ahead of the US presidential election. Markets have taken a nosedive lately as President Trump ramped up his trade war with China but one asset class making hay is bitcoin. The digital currency just hit $8000, its highest for 10 months, on the same day the Dow Jones plunged 617 points when the US hiked tariffs on $200 billion worth of Chinese goods.
Bitcoin price up 175% as gold reaches all-time record
A public key serves as a bank account to send money to, while a private key is like a PIN code using which a user signs the transaction. Concerns over inflation and interest rate uncertainties in various countries including the U.S. influenced the crypto market, as concerns around borrowing costs often push investors toward less volatile assets. Uncertainty regarding ETF approvals and SEC policies continues to create a volatile environment, as many traders and institutions await clearer rules. Bitcoin, the world’s most prominent digital currency, reached a historic milestone this Monday, with its market capitalisation surpassing that of silver. The cryptocurrency soared to a value of $1.75 trillion, pushing past silver’s $1.732 trillion and solidifying its position as the world’s eighth-largest asset.
- In Europe, Interpol is seeking suspects on behalf of Austrian authorities, who are investigating an alleged bitcoin scam that affected as many as 10,000 investors in the country.
- If a divided Congress emerges, or if significant resistance to cryptocurrency adoption persists, it could stall Bitcoin’s bullish momentum.
- Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show and premium investing services.
- Bitcoin lost value over the weekend after crypto investment firm Three Arrows Capital collapsed.
A new era of institutional support and political optimism
Solana’s price surged significantly following news that the well-known fund manager VanEck had applied to launch an ETF based on this cryptocurrency. However, SEC approval for a Solana ETF seems uncertain as such a move would open the door to similar investment products for smaller cryptocurrencies. This could increase the risk of the public acquiring easily manipulated assets, potentially leading to significant losses for inexperienced investors in my opinion. As part of his campaign platform, Trump signaled plans to reduce regulation surrounding the crypto industry, including the creation of a strategic Bitcoin reserve and appointing regulators more favorable to digital assets. One of his first actions as president, according to his campaign, would be to dismiss Gary Gensler, the current chair of the Securities and Exchange Commission (SEC), appointed by Joe Biden in 2021.
As Bitcoin price soars, should it now be taken seriously or is it a new bubble?
While silver, traditionally viewed as a stable store of value, has faced a 6.24% decline over the past week, Bitcoin has climbed by approximately 30% over the same period and has now flipped even the Vanguard Total Stock Market ETF. “If the Trump administration does deregulate crypto, it’s hard to see how it is not bullish for the sector,” said Matt Simpson, a market analyst at StoneX Financial. Simpson noted that deregulation could lead to further price increases, with Bitcoin potentially reaching $100,000. Although in the past Trump referred to Bitcoin as a “scam against the dollar”, he changed his tune on cryptocurrency during the https://momentum-capital-crypto.net/ US presidential election campaign and pledged to make the US “the crypto capital of the planet”. This process is called halving, and it creates new market supply and demand dynamics, which is reflected in the price of BTC.
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First, the market’s full digestion of Trump’s proposals will remain uncertain until control of the House and any internal party opposition are clarified. If a divided Congress emerges, or if significant resistance to cryptocurrency adoption persists, it could stall Bitcoin’s bullish momentum. Recently, the Japanese cryptocurrency exchange Mt. Gox, which was hacked in 2014, announced it is on track to recover some of its customers’ funds. I expect this move to increase selling pressure on Bitcoin because this incoming supply has been out of circulation for over 10 years. Even if https://momentum-capital-crypto.net/ beneficiaries are compensated by increasing their holdings, today’s value could be enormous compared to 2014, tempting them to sell to realize unprecedented profits.
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