The Bitcoin (BTC) post-Trump win price rally continues as the digital asset again reached a new all-time high (ATH) on Wednesday, November 13. BTC had been hovering around the $90,000 mark at the beginning of the week and it finally crossed the barrier on Wednesday by setting a new ATH at $91,938.
Earlier last week, Bitcoin crossed its all-time high after it got past the #73000 mark after Donald Trump won the US election.
On Wednesday BTC began the day at $85,847.86 and gradually made its way to the $91,000 mark, finally crossing it to set a new high of $91,938 in the evening.
This considerable jump in Bitcoin price has resulted in an increase in its market capitalization just like in the previous surges. The latest rally has pushed the market cap to $1.8 trillion.
This indicates that crypto investors are getting more interested in the coin and hence Bitcoin trading activity is growing.
In the last 24 hours, the BTC price rally has caused a massive surge in its daily trading volume which has now reached $92.99 billion. This shows increased liquidity and investor enthusiasm for Bitcoin.
Crypto analysts have dug deep to find out that this sustained price rally is probably due to the rise in Bitcoin adoption in different sectors. The increase in institutional investors' interest in BTC is another reason driving this price rally.
Despite the price volatility, the substantial spike in Bitcoin value indicates that the token's appeal hasn't faded amongst investors and it still plays a crucial role in the ever-changing crypto landscape.
BTC’s stronghold as the top cryptocurrency is illustrated in these recent highs amidst market fluctuations. With Bitcoin testing new support levels, crypto traders are more attentive to consolidations and pullback phases.
Analysts predict that the coin will set new records and continue to maintain its position as a top cryptocurrency. Analysts were earlier forecasting that Bitcoin will reach 100,000 by 2024 end, the recent spikes have further strengthened those predictions.
At the time of writing, BTC was up nearly 7% in the last 24 hours to reach $92,714 while its trading volume was down 27.76% to touch $111.13 billion and the market cap rose 7.17% to hit $1.83 trillion.