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On 10 November, bitcoin hit a new record high, reaching $80,000. According to cryptocurrency exchanges, the bitcoin rate rose by 4.3% to $79,771, after which it stabilised at around $79,000 as of 14:05 in Singapore (9:00 Kyiv time). This is according to Coinmarketcap.
Other cryptocurrencies, such as Cardano and Dogecoin, also recorded growth, reflecting the general trend in the crypto market, which continues to recover amid increased investor interest in digital assets.
Over the past seven days, bitcoin has shown a gain of over 16%, which is partly due to a strong market recovery amid the US presidential election. Investors see cryptocurrencies as an opportunity to preserve assets amid economic uncertainty and potential changes in financial policy that could result from the presidential election.
In addition, bitcoin continues to be influenced by expectations regarding the regulation of cryptocurrencies, as well as growing interest in market assets among institutional investors, which pushes the rate to new highs. Amid the rising value of cryptocurrencies, more and more financial institutions are announcing their readiness to include digital assets in their portfolios, which creates additional demand and fuels the market.
Analysts predict that the bitcoin rate may fluctuate in the coming days, depending on the geopolitical situation, and recommend that investors be prepared for increased volatility in the cryptocurrency market.
