Bitcoin Soars Past $89K Amid Post-Election Crypto Surge
TL;DR Summary
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.
- Trump isn’t the only ‘story’ driving Bitcoin’s price higher, says exec Cointelegraph
- Bitcoin tops $89,000 as crypto euphoria over Trump win shows no sign of waning CNBC
- Watch Bitcoin Reaches A New Record High | Bloomberg: The Asia Trade 11/12/24 Bloomberg
- Bitcoin, Dogecoin and Solana Surge in Post-Election Crypto Price Jump The Wall Street Journal
- Bitcoin Price Passes $88,000. How Much Further Cryptos Can Rally. Barron's
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