The post How Will BTC React to $3B Buying Spree? appeared on BitcoinEthereumNews.com.

Bitcoin (BTC) price today trades at $98,331.0 as of 6 PM. BTC price hit a daily high of $98,377.0 today after rallying 5.18% on November 22. Why Is Bitcoin Price Up Today? Bitcoin price today is up 5.18% today and currently auctions around $98,331.0. Since the breakout from the seven-month consolidation and the $75k hurdle, the crypto market outlook has turned bullish. While a few altcoins shoot higher, the alt season is yet to begin. *bitcoin price updated as of 6 PM. Price of BTC trades at $98,331.0, bringing the year-to-date gain from 56% on October 20 to 108% as of November 18. Although many altcoins have shot up over triple digits, Bitcoin is catching up. Ethereum price’s YTD performance is lackluster, stands at 39%, and is well below BTC. Although Bitcoin is the largest cryptocurrency by market capitalization, Bitcoin’s popularity is due to its first-mover advantage and its being a secure, decentralized network. In addition, many narratives, like digital gold, inflation hedges, and uncorrelated assets, have kept BTC at the forefront of the crypto market since its inception in 2009. Bitcoin Price Eyes Bullish End to 2024 Industry veterans’ speculation of a bull run post-US elections was right, and Bitcoin is likely to end November 2024 on a positive note. Many even expect a six-digit target for BTC by the end of November, and this is due to the historical returns. History shows that Bitcoin has always performed massively in the fourth quarter. Historical Bitcoin Price Performance With that said, if Bitcoin price hits a new ATH in November or December, Bitcoin’s market capitalization, which stands at $1,941.2 billion could push toward the $2 trillion mark. Bitcoin: The Largest Cryptocurrency   While Bitcoin’s market cap hovers around $1,941.2 billion, with Ethereum, the duo controls nearly 65% of the total…

---

Filed under: News - @ November 21, 2024 7:32 pm