Bitcoin Sets New Record High at $94,000

user avatar

by Giorgi Kostiuk

2 years ago

Bitcoin continues its upward trend, reaching an all-time high close to $94,000, solidifying its status as the world's seventh-largest asset by market cap.

Price Surge Following U.S. Elections

After Donald Trump was elected the U.S. President, bitcoin surged from $68,000 to $75,000 on the same day, driven by increased investor interest in cryptocurrencies.

Consolidation and New Achievements

Following its peak at $93,477 last week, bitcoin entered a consolidation phase. Speculative actions like profit-taking by miners briefly lowered its price below $87,000. However, the new business week saw it briefly reaching over $92,000 again.

Bitcoin's Market Position

With a market capitalization of $1.850 trillion, bitcoin ranks as the seventh-largest asset globally, inching closer to giants like Alphabet and Amazon. The recent surge has led to $70 million in short liquidations, with total losses amounting to $300 million.

The rapid increase in bitcoin's value and market cap heightens interest in cryptocurrencies, potentially leading to even higher future valuations.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Payward to Acquire Saldo Bank for European Banking Expansion

Payward, the parent company of Kraken, plans to acquire Lithuania-based Saldo Bank to enhance its banking capabilities and integrate banking products with crypto services.

user avatarMaria Fernandez

Germany's Sparkassen Group Begins Cryptocurrency Trading Rollout

Germany's Sparkassen savings bank group is starting a phased rollout of cryptocurrency trading within its existing banking app, beginning on October 19, 2023.

user avatarGustavo Mendoza

CME Group to Launch Bitcoin Cash and Uniswap Futures on October 19

CME Group has scheduled the introduction of Bitcoin Cash and Uniswap futures for October 19, providing institutional traders with more cryptocurrency markets.

user avatarRajesh Kumar

Ethereum's Glamsterdam Upgrade Scheduled for Hoodi Test Network

Ethereum's next major upgrade, Glamsterdam, is set to activate on the Hoodi test network on October 26, marking a significant step in testing changes to block production and execution costs.

user avatarMiguel Rodriguez

International Crackdown on West African Scam Networks Results in 28 Arrests

An international effort against West African scam networks has led to 28 arrests and the removal of over 37 million accounts linked to fraudulent activity.

user avatarLuis Flores

Stablecoin Payment Transactions Surge Despite Flat Supply

A new report reveals a significant increase in stablecoin payment transactions, contrasting with stagnant supply levels.

user avatarArif Mukhtar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.