Bitcoin - Overview from 11.11.2024
Published on 11.11.2024 11:01
For the first time in history, the Bitcoin rate exceeded the $80,000 mark, increasing its market capitalisation to more than $1.5 trillion just a few days after Donald Trump was re-elected president of the United States. During his election campaign, Trump promised to make the US a leader in the field of cryptocurrencies, proposing to create a national Bitcoin reserve and appoint supporters of the crypto industry to key positions. After his victory, the Bitcoin rate increased by 15.65%, approaching its best weekly dynamics since February. In 2024, Bitcoin appreciated by 80%, which was facilitated by high interest in US exchange-traded funds (ETFs) and a decrease in interest rates by the Federal Reserve. Cryptocurrency outperformed traditional assets in terms of profitability, such as stocks and gold.