Why The Crypto Market Is Surging Today?

Share This Post

BULLIONZ

The post Why The Crypto Market Is Surging Today? appeared first on Coinpedia Fintech News

With Donald Trump winning the U.S. election, the Trump vs Harris battle comes to an end. Following the result, the crypto market experienced a strong positive inflow with major tokens recording a double-digit surge.

However, with this investors are curious about questions like whether the crypto market will continue gaining value?” and “Is this a good time to invest in the crypto market?”. We at CoinPedia have covered in-depth research to uncover such doubts.

Bitcoin Price Achieves A  New ATH!

The BTC coin price has jumped 8.13% in the past day with a trading volume of over $100 million. This has resulted in it achieving a new ATH of over $75,000 during the early Asian market. Moreover, with increased price action, it eyes to retest the $80k soon.

Bitcoin Price Analysis 06th November 2024
TradingView: BTC/USDT

The Relative Strength Index (RSI) is on the verge of testing its overbought range in the 1D time frame. Moreover, with a bullish convergence in its average trendline, the BTC crypto hints at a positive outlook.

On the other hand, the SMA indicator has experienced a positive crossover in the Bitcoin price chart. With the current market sentiments, the star crypto may continue gaining value this week.

Key Dates & Events This Month!

With a favorable outcome to the first major event of this month. The crypto market is preparing for the upcoming FOMC meeting which is scheduled tomorrow. Notably, with the present market sentiments, this meeting will play an important role in the short-term prospects.

Source: CoinPedia

With the potential start of an intense crypto bull rally soon, the upcoming meeting of South Korea’s Virtual Assets Committee during the middle of November could act as a catalyst for BTC price to achieve the $100k mark sooner than anticipated.

Will BTC Price Hit $80k This Week?

If the market continues to favor the bulls, the Bitcoin token will head toward its upper target price of $80,000 during the upcoming time. Maintaining that bullish sentiment could result in it moving toward the $85k range.

Conversely, if the crypto market experiences a short pullback, it could retest its $71,000 level. Further, if the bears outrun the bulls, the star crypto may plunge toward its lower support trendline of $68k.

Wondering if the largest crypto token will achieve the $100k mark this year? Read our Bitcoin (BTC) Price Prediction article to uncover the long-term possibilities!

FAQs

Why is crypto surging right now?

With the BTC price hitting a new high, the crypto market has experienced a massive uptrend in its valuation.

Will crypto keep going up?

With a constant uptrend in valuation since 2023, the crypto market has added a significant valuation this year.

What happened to the crypto market today?

With Donald Trump winning the U.S. election 2024, the crypto market recorded a jump of 8.04% in valuation.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

TRON Unites as Silver Sponsor at SmartCon, Justin Sun Announces TRON Integration with Chainlink Data Feeds

Geneva, Switzerland, November 6, 2024 – Justin Sun, Founder of TRON, Global Advisor of HTX and Prime Minister of Liberland, delivered a keynote address at the Chainlink SmartCon, held in Hong

Dogecoin, Pepe Pumping as BTC Hits $75K ATH – Next Cryptos to Explode

The post Dogecoin, Pepe Pumping as BTC Hits $75K ATH – Next Cryptos to Explode appeared first on Coinpedia Fintech News The crypto market has reached new heights as Donald Trump claims victory and

PolitiFi Tokens Surging with MAGA, Tremp, ConstitutionDAO Up as Trump Claims Victory

The post PolitiFi Tokens Surging with MAGA, Tremp, ConstitutionDAO Up as Trump Claims Victory appeared first on Coinpedia Fintech News Donald Trump has claimed victory in the US election and the

Vintage Bitcoin Wallets Resurface—Millions Worth of BTC on the Move as Prices Hit New Highs

With bitcoin staying solid above the $74,000 mark, a wave of long-dormant bitcoins from years past has suddenly come to life as the price edges higher Dormant Bitcoin Vaults Open as the Price Climbs

WazirX Reveals To Issue Recovery Token To Settle Creditor Debts, Shares Strategies To Maximize Fund Recovery

The post WazirX Reveals To Issue Recovery Token To Settle Creditor Debts, Shares Strategies To Maximize Fund Recovery appeared first on Coinpedia Fintech News Indian Crypto Currency Exchange WazirX

Whale Buys $5 Million of PEPE, Bullish Signal or Market Risk?

The post Whale Buys $5 Million of PEPE, Bullish Signal or Market Risk appeared first on Coinpedia Fintech News The sentiment across the cryptocurrency market has significantly changed as pro-crypto