After continuing to rise throughout the weekend, bitcoin prices reached yet another all-time high on Monday morning.
Source: NewsBTC
According to CoinGecko, early Asian trade on Monday, November 11 saw Bitcoin reach its highest level ever, $81,800.
The asset has gained a staggering $14,000 since its Nov. 5 price of $67,500, resulting in a weekly increase of 18%.
Following Donald Trump’s overwhelming victory in last week’s US presidential elections, most of those advantages have occurred.
Thrilled Analysts and Investors
Over the weekend, when traditional markets are closed and cryptocurrency trading is often sluggish, Bitcoin even saw a $5,000 increase. Bitcoin has risen 93% since the start of 2024 and 400% from its bear market low of $16,000 in November 2022, according to the most recent pump.
Image: On-chain expert James Check (Source: Checkonchain
Markets are now in the “euphoria zone,” according to on-chain expert James Check, as Bitcoin is experiencing a fresh price discovery. “A strong foundation for launch was formed by the eight months of chopsolidation, which allowed investors to adjust to higher prices,” he continued.
Source: Checkmate X Post
The presidential election on November 5th marked the official start of euphoria, according to Blockworks co-founder Jason Yanowitz, who also described it as a “beautiful time.”
Image: Blockworks co-founder Jason Yanowitz (Source: Entrepreneurship Handbook
“The thieves haven’t jumped in yet, but everyone is making money. This period will not last long, so take the time to truly appreciate it.
Marathon Holdings chair and CEO Fred Thiel bemoaned the German government’s choice. When Bitcoin was worth about $53,000, they sold it. He said that his Metaplanet Company currently holds over 27,000 bitcoins, and that number is rising daily. “Thank you; the Bitcoin we bought this year has appreciated nicely,” he remarked.
Image: Marathon Holdings chair and CEO Fred Thiel (Source: CoinDesk
“A robust bull market driven by spot and fundamentals can run on high leverage while seeing regular levered flushes,” noted economist Alex Krüger on November 11, citing Coinbase’s “absurd levels,” of relentless Bitcoin spot buying.
