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Bitcoin smashes through $90,000

ended 13. November 2024

Bitcoin just keeps on rising, having passed $90,000 earlier. Is $100k now inevitable and will the big milestone be passed before Christmas? What are your thoughts for anyone who might be looking in now thinking they need to buy? Steer clear or pile in? Any thoughts on the astronomic performance of Bitcoin since the Trump win, send them across. What's driving the cryptocurrency's immense rally and could it all end in tears or will BTC kick on when Trump is back in the Oval Office? This is for the Daily Mail and the deadline, as ever, is ASAP.

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Editor
Gabriel McKeown
Head of Macroeconomics at Sad Rabbit - Substack Newsletter
With a new all-time high reached, investors are flocking to Bitcoin in a digital gold rush, and the whole cryptocurrency market continues to show unbridled enthusiasm. The current rally can be attributed to several factors, with its proponents arguing that it is an attractive hedge against inflation and a store of value in times of economic uncertainty due to its independence from central banks and government fiscal policy. Furthermore, the upcoming Trump presidency is anticipated to create a more favourable regulatory environment, potentially driving renewed institutional demand. However, at these peak levels although the potential for significant gains exists, with bucketloads of economic uncertainty still on the horizon, there is substantial downside risk. Therefore, investors should remember that Bitcoin tends to act more as a speculative asset, and the price of cryptocurrencies can fluctuate dramatically based on market sentiment and a fear-of-missing-out mentality.