Bitcoin Soars Towards Historic $100K Milestone
On November 20, 2024, Bitcoin reached a new milestone, surging past $98,000 for the first time. This surge is largely attributed to investors pricing in the potential impact of Donald Trump’s second presidency on cryptocurrency markets.
The flagship cryptocurrency gained over 4% during trading, with prices climbing as high as $98,722 according to market data. Bitcoin’s impressive performance this year is evident in its approximately 130% gain year-to-date, a rise fueled by expectations of crypto-friendly regulatory policies under the incoming administration.
Crypto-related stocks also reaped the benefits of the rally. Notable gains include:
- Coinbase, advancing 3% in premarket trading
- MicroStrategy, jumping 11%
- Mining company Mara Holdings, rising 9%
Analysts predict Bitcoin could reach the psychologically significant $100,000 level before the end of November. This prediction is driven by institutional adoption and growing demand from retail investors.
Source: CNBC