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Bitcoin Soars to $91,718, Market Cap $1.8T; Analysts Predict $200,000 by 2025

Nov 18, 2024, 11:53 AM

Bitcoin surged past $90,000, reaching a new all-time high of $91,718 and marking its largest one-day move in history by soaring $8,086 in a single session. The post-election rally propelled Bitcoin from $75,000 to over $90,000, driven by substantial institutional investments and increased futures interest. With a market capitalization of approximately $1.812 trillion, Bitcoin has surpassed silver, Saudi Aramco, and companies like Meta (Facebook) to become the seventh-largest asset globally. Analysts are predicting further growth for Bitcoin. CryptoQuant CEO Ki Young Ju revised his forecast, expecting Bitcoin to reach $112,000 by the end of 2024 and $135,000 during the current cycle. Research firm Bernstein projected that Bitcoin could hit $200,000 by 2025, stating, "Intrigue will turn to pain for the bitcoin bears." Some analysts suggest that if Bitcoin reaches parity with gold's current market size, its price could soar to around $900,000. Additionally, the total cryptocurrency market capitalization breached the $3 trillion mark, hitting a new record high.