2024

Bitcoin

Impact

when

<p>The <a href="https://coinpedia.org/news/2024-us-elections-result-donald-trump-officially-elected-president/" target="_blank" rel="noreferrer noopener">US election results</a> and the <a href="https://coinpedia.org/news/federal-reserve-slashes-interest-rates-by-25-basis-points-sending-bitcoin-price-towards-new-ath/" target="_blank" rel="noreferrer noopener">Federal Reserve’s interest rate cut</a> have sparked a strong rally in the cryptocurrency market, with Bitcoin leading the way. Since November 5, Bitcoin has surged by 12.78%, and a leading crypto analyst predicts that Bitcoin could hit $80,000 next week. </p>   
<p>Want to know how? Read on!</p>   
<h2 class="wp-block-heading" id="h-bitcoin-s-30-day-growth-analyzed">Bitcoin's 30-Day Growth Analyzed </h2>   
<p>In the last 30 days, Bitcoin has grown by 25.9%. Many believe the cryptocurrency is far from reaching its peak. The analyst’s recent post suggests that Bitcoin could hit $80,000 within the next week, creating a buzz in the crypto community.</p>   
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<h2 class="wp-block-heading" id="h-low-profit-taking-signals-investor-confidence-nbsp">Low Profit-Taking Signals Investor Confidence&nbsp;</h2>   
<p>Typically, investors sell when they think their assets have peaked. But if they choose to hold onto Bitcoin, it may signal more growth ahead. The Bitcoin Net Realized Profit/Loss chart shows that profit-taking is currently much lower than previous highs, suggesting there is still room for the market to rise.</p>   
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<p>The analyst also points out that Bitcoin’s current price is still far below its inflation-adjusted all-time high (ATH). This shows that the<a href="https://coinpedia.org/price-analysis/bitcoin-bullish-continuation-unfolding-perfectly-while-shorts-pile-up-at-77000-will-the-btc-price-make-it-to-80000/" target="_blank" rel="noreferrer noopener"> Bitcoin market</a> has more potential to grow, even after the recent surge.</p>   
<h2 class="wp-block-heading" id="h-why-the-bitcoin-consolidation-is-important">Why the Bitcoin Consolidation Is Important</h2>   
<p>Bitcoin has been in a consolidation phase for the last nine months, which has helped strengthen its foundation. Experts believe this period of stability has positioned Bitcoin for a strong bullish phase. As Bitcoin continues to stabilize, it may be preparing for a major upward movement.</p>   [post_titles_links postid="377730"]   
<h2 class="wp-block-heading" id="h-bitcoin-s-historical-performance-in-2024">Bitcoin's Historical Performance in 2024</h2>   
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<p>The year 2024 is the second year of the current four-year cycle. Typically, the second and fourth years in a cycle are when the BTC market shows weaker performance. In 2012, the performance of BTC was just +183.5%. In 2016, it declined further to +123.8%. In the first quarter of 2024, the market registered a return of +68.7%. In the second quarter, it slipped to -12%. </p>   
<p>However, in the third quarter, it slightly improved to +0.76%. In the first month of this fourth quarter, the market registered a return of +11.2%. Historically, Q4 has been a favorable period for BTC. In the previous Q4, the BTC market reported a return of +56.6%. On November 1, the Bitcoin price was $70,251.50. By November 4, it has fallen to a monthly low of $67,821.68. Since November 5, the market has surged by 12.78%.&nbsp;</p>   
<p>In conclusion, with market momentum building, Van Straten’s projection suggests Bitcoin is poised for a significant leap, making $80,000 a realistic short-term target in line with this <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">Bitcoin price prediction</a>.</p>   
<p><strong>Bitcoin's rapid rise is showing no signs of slowing down. Prepare for new milestones soon! </strong></p>

Bitcoin Price Eyes $80K as US Election Impact Fuels Crypto Market

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