Following Donald Trump’s re-election, Bitcoin price surged to $80,000, marking a new milestone and sparking optimism in the crypto market.
Investors anticipate that Trump’s administration could bring more crypto-friendly regulations, as he has voiced support for making the U.S. a leader in digital currencies.
This sentiment has pushed Bitcoin up by 4.5%, while other cryptocurrencies like Ether and XRP have also gained.
Bitcoin Hits $80,000 as Trump’s Win Sparks Investor Optimism
In the wake of President-elect Donald Trump’s second-term victory, Bitcoin surged to $80,000 for the first time, lifting investor sentiment.
This increase reflects market anticipation of more crypto-friendly regulations under Trump, who has expressed interest in positioning the U.S. as a global leader in cryptocurrency.
#Bitcoin is closing in on $80,000 for the first time, boosted by President-elect #DonaldTrump’s embrace of digital assets.
Read details herehttps://t.co/2qiQ8WMOQ0 pic.twitter.com/OQztxSb1se
— Hindustan Times (@htTweets) November 10, 2024
Bitcoin rose 4.5% to $80,000, while Ether gained 3%. XRP and Cardano also saw notable gains. Trump’s team includes pro-crypto advocates, fueling optimism for a “golden era” in the industry.
Proposed policies, such as creating a national Bitcoin reserve, are expected to drive further growth. Since the election, Bitcoin has risen 18% and Ether 32%.
Key Points:
- Bitcoin hits $80,000, Ether up 3%.
- Trump’s pro-crypto stance fuels investor optimism.
- Analysts forecast significant growth in response to crypto-friendly policies.
Robert Kiyosaki Aims to Own 100 Bitcoins by 2025 for Long-Term Growth
Robert Kiyosaki, author and investor, plans to increase his Bitcoin holdings from 73 to 100 by 2025. He shared on social media that he doesn’t wait for Bitcoin prices to drop, as he believes waiting to invest reflects a “poor person’s mindset.”
WORDS & THOUGHTS of a poor person.
1: Bitcoin costs $76,000. “That’s too expensive. II will wait till the price goes down.”
2: Gold is $2684 an ounce. “That’s too expensive. I will wait for the price to come down.”
3. Silver is $32.00 an ounce. “That’s too expensive.…— Robert Kiyosaki (@theRealKiyosaki) November 9, 2024
Kiyosaki first invested in Bitcoin at $6,000 and silver at $1 an ounce. Although he wishes Bitcoin could return to $10, he prioritizes steady investing and diversification across assets like gold, silver, and real estate.
Key Points:
- Kiyosaki plans to hold 100 Bitcoins by 2025.
- He values steady investing over timing the market.
- Diversified strategy includes gold, silver, and real estate.
Bitcoin Hits $80,770; Michael Saylor Reaffirms Confidence
Bitcoin recently surged 6% in a day to reach an all-time high of $80,770. Former MicroStrategy CEO Michael Saylor responded by sharing the song “There Is No Second Best,” underscoring his belief in Bitcoin as the top investment.
With Bitcoin’s price rise, MicroStrategy’s Bitcoin holdings are now valued at $20.3 billion.
There is No Second Bestpic.twitter.com/PYEl3mEJU6
— Michael Saylor
(@saylor) November 10, 2024
Peter Thiel, CEO of Marathon Digital, also commented, criticizing Germany’s Saxony region for selling 50,000 Bitcoins at $53,000 each, missing out on $1.3 billion in potential revenue.
Key Points:
- Bitcoin reaches new high of $80,772, up 6%.
- MicroStrategy’s Bitcoin holdings now worth $20.3 billion.
- Marathon Digital’s CEO criticizes missed profit by Saxony, Germany.
Bitcoin Price Rally Nears $82,250 as Bullish Momentum Strengthens
Bitcoin has rallied past the $80,000 mark, propelled by a bullish engulfing candle that pushed prices to the 200% Fibonacci extension level around $80,400.
Now, BTC is approaching the 227% Fibonacci level near $82,250, a crucial resistance zone.
If Bitcoin maintains this upward momentum, the next resistance to watch will be at $84,580, near the 262% Fibonacci extension.
Immediate support lies around $77,810, aligning with the 162% Fibonacci extension. Should prices fall below this level, BTC could test support at $75,460 and $73,610.
The Relative Strength Index (RSI) is at 78.5, indicating overbought conditions, which may lead to short-term profit-taking.
Meanwhile, the 50-day Exponential Moving Average (EMA) at $68,440 remains a strong support level, highlighting the strength of the ongoing rally.
Conclusion: Bitcoin’s bullish momentum remains strong, though overbought conditions suggest caution.
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