Bitcoin is on a tear, smashing through price barriers like it’s nothing. Just last week, it was trading at $67,568, and now it’s already over $88,000!
Altcoins Are Also Soaring
Other cryptocurrencies are following Bitcoin’s lead. Ethereum hit $3,349, Solana (SOL) touched $220, and Dogecoin even reached $0.32. All of these coins saw impressive gains in the last 24 hours.
Trump’s Crypto Plans Fuel the Rally
This crypto surge comes alongside a record high for the Dow Jones Industrial Average. The market seems to be reacting positively to the election results and Donald Trump’s plans for the future.
Trump has promised to stop selling Bitcoin seized from criminals and instead hold onto it strategically, similar to gold. He also plans to fire the head of the Securities and Exchange Commission and implement policies that support crypto self-custody and the industry as a whole.
Analyst Predicts a Correction
While the entire crypto market is booming, analyst Michaël van de Poppe points out that the total market capitalization hasn’t reached an all-time high yet. He expects a minor correction in the next couple of weeks, followed by a new record high in November.
Disclaimer: This information is for educational purposes only and should not be considered investment advice. Always do your own research before investing in cryptocurrencies.
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