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Bitcoin Soars Past $89K Amid Post-Election Crypto Surge

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Source: Cointelegraph
Bitcoin Soars Past $89K Amid Post-Election Crypto Surge
Photo: Cointelegraph
TL;DR

Bitcoin's recent price surge is attributed more to a post-halving supply shock than to Donald Trump's election victory, according to Onramp Bitcoin co-founder Jesse Myers. The April halving reduced block rewards, creating a supply-demand imbalance that drives prices higher. This pattern has historically led to predictable bubbles post-halving, as seen in previous cycles. Analysts suggest Bitcoin's scarcity and market dynamics will continue to push its value upward, with only 1.2 million BTC left to be mined.

Topics:businessfinance#bitcoin#finance#halving#market-cap#price-rally#supply-shock
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  1. Trump isn’t the only ‘story’ driving Bitcoin’s price higher, says exec  Cointelegraph
  2. Bitcoin tops $89,000 as crypto euphoria over Trump win shows no sign of waning  CNBC
  3. Watch Bitcoin Reaches A New Record High | Bloomberg: The Asia Trade 11/12/24  Bloomberg
  4. Bitcoin, Dogecoin and Solana Surge in Post-Election Crypto Price Jump  The Wall Street Journal
  5. Bitcoin Price Passes $88,000. How Much Further Cryptos Can Rally.  Barron's

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