Src: Investopedia
Currently, Bitcoin is valued above $98,000 maintaining stability in this price range after a significant increase earlier in the month. As of November 25, 2024, the price of Bitcoin is approximately $98,361.21 reflecting a small increase of 0.43% from previous levels with a daily low of $96,797 and a high of $98,622.70.
Bitcoin briefly surpassed $99k on November 21, marking a new all-time high driven by investor optimism regarding pro-crypto policies expected from the new Trump administration. This represented a 46% increase since the election results were announced.
The value of crypto has more than doubled this year gaining over 130% year-to-date and is nearing the psychological milestone of $100k.
While the leading crypto shows relative stability, altcoins have shown significant volatility. Ethereum, Solana, and others have also seen fluctuations with some experiencing drops of up to 16% from their recent highs.
The overall market cap of crypto stands at approximately $3.35 trillion.
Market analysts remain divided on Bitcoin's immediate future. Some think a potential correction back to around $80,000 citing over-leverage in the crypto community while others maintain an optimistic outlook as institutional interest continues to increase.
Whatever the case may be, the crypto market is a volatile one and one should proceed with caution.
Not financial advice.
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