Market capitalization data from cryptocurrency market aggregators like CoinMarketCap

Bitcoin Hits $93,500 Record High, Up 30% Since Election

Nov 13, 2024, 02:31 PM

Bitcoin has reached new all-time highs, surging past $88,000 and climbing over $93,500 in the past few days. On November 11, the cryptocurrency broke the $88,000 level, hitting a notable milestone at $88,888.88. The rally continued as Bitcoin surpassed $90,000 on November 12 and reached $91,938 on November 13. Since Election Day, Bitcoin has surged nearly 30%, breaking multiple thresholds in a single day. The rapid increase is attributed to strong institutional interest, favorable regulatory developments, and investor confidence in Bitcoin as a hedge against inflation. Some sources indicated that the post-election environment, including Donald Trump's win and promises to make the U.S. a 'crypto capital,' have contributed to the bullish sentiment. Bitcoin's market capitalization has reached $1.8 trillion as a result of this rally.