30s Summary
Bitcoin’s value has surged by over 40% since October 13, with experts expressing optimism for its future. Glassnode reports less panic selling during high prices, suggesting potential for another price increase. Realized profit volumes have averaged $1.56 billion per day since the record high of $73,679 on November 5. Post Trump’s election victory, Bitcoin hit a peak of $90,100 and is currently around $87,534. Entrepreneurs and traders remain upbeat about Bitcoin’s future, with plans to purchase until it reaches $100,000. It’s essential to note, however, that investing always involves risk and requires extensive research.
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Bitcoin has seen a huge increase of over 40% since Oct. 13. Crypto experts are pretty optimistic about its future, noting that people selling for profit is not as crazy as before during super-high price times.
Crypto company Glassnode shares in a Nov. 12 market report that even though a lot of people are selling for profit, it’s not yet as bad as before. This could mean that there’s still potential for Bitcoin prices to go up a bit more before too many people start selling, leading to a drop in demand and price.
What does it mean by ‘realized profit volumes’? Well, Glassnode says that these have been averaging around $1.56 billion a day since Bitcoin smashed its last record high of $73,679 on Nov. 5, which is way less than the $3 billion per day we saw during record high times in March.
On top of this, since breaking through this last record high, it seems like folks have made a whopping $20.4 billion in profit.
Let’s take quick recap. Bitcoin has grown 40% since Oct. 13, when it was still steady at $62,507. After smashing its previous record high of $73,679 on Nov. 5, and the world feeling pretty sure that Donald Trump would win the election, Bitcoin went nuts and surpassed $85,000 on Nov. 11. This marked its best single-day boost ever, shooting up more than $8,400 in one day.
Since Trump’s victory, Bitcoin shows no signs of slowing down, hitting a crazy high of $90,100 on Nov. 12. Since then it’s cooled down a touch and is currently sitting around the $87,534 mark according to TradingView.
Swan Bitcoin’s CEO, Cory Klippsten, thinks it’s pretty cool that Bitcoin is still holding its current price level despite the huge run over the weekend. He’s not the only one who’s optimistic either.
Entrepreneurs, authors and traders are excited about Bitcoin’s future and it seems like many believe the sky’s the limit. One author, Robert Kiyosaki says he’s going to keep buying Bitcoin until it hits the $100,000 mark. Pro-Bitcoin author Chris of WealthSquad thinks that Bitcoin is still cheap now. And, Trader Anthony Pompliano has said on X that with the national debt rising in the US, it’s as if there’s a race to see what will rise more – the debt or Bitcoin’s price.
Just remember, this article is not investment advice or recommendations. Trading and investing always comes with risk so do your own research and make wise decisions.