BTC Achieves New ATH: Analysts Say Market Rally is Just Beginning
The price of bitcoin has risen above $79,000 for the first time in a week that saw it hit many new highs since Donald Trump was reelected as US president. Bitcoin hit $79,882 on the cryptocurrency market CoinMarketCap on November 10. Traders cautioned against acting rashly quite yet, though. In an X post, bitcoin analyst Tuur Demeester stated that “no rash action is needed, HODLing does the work for you.”
$79k Bitcoin, new ATH. Steady folks, this is just the beginning. This is a time for being right and sitting tight.
Demeester
Similar sentiments were expressed by Glassnode head analyst James Check, also known as Checkmatey, who explained that despite Bitcoin hitting new all-time highs, the distance between the price and the 200 Day Moving Average (DMA) is still cooled off.
Bitcoin Surpasses $73K, $76K, and $77K in 3 Days – Bitwise CEO Sees Further Growth Ahead
On November 5, Bitcoin broke past its all-time high of $73,679; the following day, on November 6, it surpassed $76,000, and on November 8, it broke through $77,000. Hunter Horsley, the CEO of Bitwise Invest, was prompted by the spike to remind his followers that when Bitcoin’s price rises, people believe it will flourish and become even more valuable rather than overpriced.
So it’s likely to go up even further,
Horsley
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