Analysis from major financial news outlets and cryptocurrency market reports

Bitcoin Reaches $80,000 Inflation-Adjusted High After Trump's Win; Dogecoin Surges 122%

Nov 10, 2024, 12:08 PM

Bitcoin has reached an inflation-adjusted all-time high of $80,000, surpassing its previous record from 2021. The surge comes after former President Donald Trump's election victory, with Bitcoin previously hitting $77,000 following the win. Market analysts note that Bitcoin's dominance is facing a bearish MACD crossover, a classic prelude to an altcoin season expected to start in 20 days. Altcoins are poised for significant gains, with Dogecoin surging 122% recently, forming a classic cup and handle pattern, potentially reaching $0.5. The crypto community anticipates further growth, with some predicting Bitcoin will reach $100,000. There is renewed interest from nation-states in buying and mining Bitcoin. The milestone occurred on a Sunday when global financial markets are closed, highlighting Bitcoin's independence from traditional markets.