CryptoCurrency
Bitcoin surpasses $1.6 trillion market cap
Supported by a new all-time high (ATH) market price above $81,000, the total market capitalization of Bitcoin crossed $1.6 trillion for the first time since its launch in 2009.
On Nov. 11, Bitcoin (BTC) reached a market capitalization of $1.62 trillion amid the ongoing bull market, concurrently bringing up the global crypto market cap to its former glory of $2.71 trillion, according to data from Cointelegraph Markets Pro and CoinMarketCap.
Bitcoin market capitalization hits $1.62 trillion. Source: CoinMarketCap
The recent price appreciation also ensured that Bitcoin investors over the last 15 years maintained profitable portfolios, according to Blockchain.com. This finding implies that all unsold Bitcoin investments made in the previous 8,900 days have appreciated in value, as shown below.
The number of days holding Bitcoin has been profitable relative to the current price. Source: Blockchain.com
Bitcoin’s current circulating supply — the total number of tokens released to the market — stands at 19.8M BTC. If Bitcoin were at its maximum supply of 21 million BTC, the BTC market capitalization would have recorded a fully diluted value (FDV) of $1.7 trillion.
Some factors contributing to Bitcoin’s sustained growth are rising interest from institutional investors, the pro-crypto stance of United States President-elect Donald Trump and overall positive investor sentiment.
Most recently, Bitcoin reached $1 trillion market capitalization in February 2024, when BTC’s price surged above $51,000. Still, the asset struggled to retain the milestone amid the halving event.
Related: Bitcoin could end year at $58K as futures market ‘overheated’ — CryptoQuant
Bitcoin’s recent price surge above $80,000 has led many traders to say that “this is just the beginning” of the anticipated Bitcoin bull market.
On Nov. 10, Bitcoin analyst Tuur Demeester urged Bitcoin investors to hold on to their investments and avoid short-term rash actions, like selling the holdings.
Glassnode lead analyst James Check, aka “Checkmatey” shared a similar sentiment, saying that “the distance” between the price and the 200 Day Moving Average (DMA) is “still cooled off.” As a result, he expects more room for Bitcoin’s price appreciation.
Magazine: Real life yield farming: How tokenization is transforming lives in Africa
Bitcoin has hit new all-time highs as President-elect Donald Trump secured victory in the 2024 United States presidential election.
Set to return to the White House after departing in January 2021, Trump now appears to be bringing a pro-crypto stance with him. His campaign made several pledges in support of the cryptocurrency sector, marking a difference with the previous administration.
As Trump prepares to resume office, Cointelegraph looks back on how the cryptocurrency landscape appeared during his last term. The industry has seen major shifts since then — half of the top 10 coins from his previous term have fallen out of the rankings.
Here’s a look at how the top 10 cryptocurrencies from Trump’s last presidency are faring today.
Bitcoin
Bitcoin price Jan. 20, 2021: $35,302.18
Bitcoin price Nov. 11, 2024: $82,379.60
Since Trump’s last White House stint, Bitcoin has gone through more twists than the president-elect’s path to election victory. First, there was an all-time high of about $67,000 in November 2021. Then came FTX — the seismic crash of November 2022 that took Bitcoin down to $17,000 and left everyone wondering if the ride was over
Fast forward through a bear market for both Bitcoin (BTC) and the global economy, with BTC dragging its feet through most of it.
Still, like any good comeback story, Bitcoin rebounded in 2024 as it became accessible to institutions on the US stock market through those shiny new spot exchange-traded funds (ETFs).
With analysts’ eyes glued to the $100,000 mark as Trump’s victory signals the beginning of the end for crypto’s supervillain, Gary Gensler at the Securities and Exchange Commission (SEC), the asset has already smashed past the $82,000 mark.
In addition, Bitcoin now hosts digital trinkets like Ordinals (an iteration of non-fungible tokens) and some of the internet’s favorite memecoins through Runes. So while Bitcoin remains the gold-standard crypto in the age of Trump 2.0, it’s also found some new ways to keep itself interesting along the way.
From undisputed king to layer-2 lab rat
Ether price Jan. 20, 2021: $1,361.05
Ether price Nov. 11, 2024: $3,175.47
Ether (ETH) was the undisputed monarch of smart contracts, reigning over a kingdom of decentralized applications. Now the crown isn’t quite as secure and the network has some serious competition.
Solana, the fast, flashy upstart is now ranked fourth by market cap, taking the lead among the “Ethereum killer” blockchains.
Ethereum, however, has chosen a different route to stay relevant. Rather than battling it out for raw speed, it opted to expand with layer-2 solutions. This has helped ease the infamous congestion and sky-high fees, but there’s a cost.
These layer-2 networks have drained liquidity and fragmented Ethereum’s ecosystem, transforming its once-unified realm into a sprawling collection of mini-kingdoms.
In its quest to evolve, Ethereum also went green with The Merge in September 2022, swapping out proof-of-work for a more eco-friendly proof-of-stake consensus mechanism.
The upgrade slashed Ethereum’s energy use by 99% and set the stage for future scalability tweaks like sharding. The crypto world applauded, and it was a big step for Ethereum’s sustainability, though it didn’t come with the explosive price surge some investors anticipated.
And while Bitcoin has been busy breaking records, Ethereum was left in the dust despite listing spot ETFs of its own. For now, Ethereum is still hanging on to its No. 2 spot, but simply being a legacy brand might not be enough to keep the crown.
Ignoring the haters
In the wake of the Terra-Luna collapse—an implosion that rattled faith in algorithmic stablecoins everywhere—Tether’s USDT has not only weathered the storm but emerged stronger than ever. Now the third-largest cryptocurrency by market cap, USDT’s valuation has ballooned to about $120 billion.
Despite raking in a net profit of $2.5 billion in the third quarter, bringing 2024’s total to $7.7 billion, the company still hasn’t undergone a full, comprehensive audit. Instead, Tether provides regular attestations.
Related: Tether posts $2.5B in Q3 profits, with 2024 earnings reaching $7.7B
So, what’s driving this profit parade? US Treasury Bills, mostly. Tether’s reserves now claim a comfortable $6 billion buffer, with $102.5 billion in Treasury Bills, making Uncle Sam’s debt Tether’s golden goose.
But with great profits come great questions. Without a formal audit, many are left wondering if Tether’s vaults are as solid as they claim. Tether may be the titan, but trust is still the currency that matters most.
From contender to rebuilder
Polkadot price Jan. 20, 2021: $15.94
Polkadot price Nov. 11, 2024: $5.13
Back in Trump’s last term, Polkadot (DOT) was riding high. With a market value of $17 per token and the fourth spot in the crypto rankings, it looked poised to become the bridge across blockchain ecosystems, promising a future of seamless crosschain communication. In 2024, though, Polkadot’s shine has dulled — a $4.10 price tag and a drop to the 21st spot by market cap.
Polkadot is no longer a top 10 crypto. Source: Logan Saether
Still, Polkadot is not waving a white flag. This year, it rolled out Agile Coretime, a new system letting developers buy processing time directly on its core layer. It’s part of the Polkadot 2.0 upgrade, a major pivot from the old auction model.
With the introduction of “inscriptions” — a playful nod to Bitcoin’s Ordinals — Polkadot smashed transaction records in December 2023, clocking in over 17 million transactions.
Still, Polkadot’s got a tough crowd to impress. Ethereum and Solana have cemented themselves as powerhouses in decentralized finance (DeFi), with other advanced chains nipping at their heels.
Clear skies ahead for XRP
XRP price Jan. 20, 2021: $0.285924
XRP price Nov. 11, 2024: $0.581592
XRP held the fifth spot in crypto rankings in January 2021. It has dropped a bit to seventh, but growth has been mostly positive. Its price has jumped from $0.2958 to $0.5355, and its market cap has more than doubled to a cool $30.5 billion. Not bad for a cryptocurrency that’s been through a legal saga intense enough for a courtroom drama series.
Ripple Labs, the San Francisco company that developed technology around the XRP Ledger and advocates for its use in cross-border transactions, scored a partial win in court in 2023.
After years of back-and-forth, the judge ruled that while some private sales of XRP did cross into unregistered securities territory, XRP itself doesn’t qualify as a security. It’s a half-victory for Ripple and a full game-changer for the XRP ecosystem, which has long operated under a regulatory cloud.
Related: SEC’s Ripple appeal doesn’t challenge XRP non-security status
Now, with legal uncertainty clearing up, XRP is even being discussed as a candidate for an ETF — alongside up-and-comers like Solana. An XRP ETF could open doors to a more mainstream audience, sparking fresh excitement among investors who’ve weathered the ups and downs. So, while XRP might have slipped a couple of notches in the rankings, its resilience, steady growth and newfound legal clarity hint at the start of an unlikely comeback.
The ’90s band of crypto fighting for a comeback
ADA price Jan. 20, 2021: $0.358738
ADA price Nov. 11, 2024: $0.592937
Back in the last election cycle, Cardano (ADA) was cruising comfortably in the top 10, with a reputation as an “Ethereum killer” and its roots tracing back to an Ethereum co-founder. Today, Cardano is a bit like that band from the ’90s that’s still hanging around the charts, occasionally slipping in and out of the top 10.
Critics love to call it a “ghost chain,” claiming there’s not much building going on and even fewer users to show up. And the numbers do raise an eyebrow: Cardano’s core developer and active user count have dropped.
Cardano’s code commits and core developer count drops. Source: Token Terminal
Yet Cardano isn’t sitting back and letting the doubters have their say. The Chang hard fork, completed in September 2024, ushered in fresh features and scalability upgrades, signaling it’s still got some tricks up its sleeve. The network has also entered the Voltaire phase, aiming for a decentralized governance model where users can participate directly in decision-making.
Litecoin and Bitcoin Cash: The original rebels fighting for relevance
Litecoin price Jan. 20, 2021: $149.80
Litecoin price Nov. 11, 2024: $77.38
Bitcoin Cash price Jan. 20, 2021: $501.72
Bitcoin Cash price Nov. 11, 2021: $438.73
In the early days of crypto, Litecoin (LTC) and Bitcoin Cash (BCH) were the champions of “spendable” cryptocurrency — two coins vying to be digital cash for everyday use.
Litecoin, the “lite” version of Bitcoin, offered faster transactions and lower fees, while Bitcoin Cash split off from Bitcoin with a bold promise: to fulfill the original peer-to-peer cash vision of Satoshi Nakamoto by boosting block sizes and reducing fees.
Both coins gained loyal followings and even some merchants, but their paths feel more like nostalgia trips than the revolution they aimed to spark.
In a world where Bitcoin has solidified itself as “digital gold” and newer cryptos offer advanced features like smart contracts and decentralized applications, Litecoin and Bitcoin Cash struggle to stand out.
Countries banning crypto payments and regulatory red tape haven’t helped, either. While some small pockets of adoption persist — think cafes in Townsville, Ljubljana, and parts of Buenos Aires — the broad use case for everyday transactions hasn’t materialized.
Litecoin and Bitcoin Cash have both dropped out of the top 10 cryptocurrencies by market cap, sitting at the 25th and 19th spots respectively.
Behind the scenes of DeFi
LINK price Jan. 20, 2021: $20.51
LINK price Nov. 11, 2024: $13.99
Chainlink (LINK) isn’t here to be “digital cash” or a “smart contract superstar,” but rather the backbone of the crypto world, quietly holding the DeFi universe together.
While other cryptocurrencies chase headlines and retail hype, Chainlink is hard at work feeding price data, weather forecasts and other real-world information to blockchains that need them. Since Trump’s last term, Chainlink’s role as the go-to oracle service has only solidified, making it the ultimate backstage hero of decentralized finance.
The recent rollout of Chainlink 2.0 added even more muscle to its oracle network. This upgrade introduced decentralized oracle networks, enabling dynamic non-fungible tokens, automated blockchain functions and all kinds of new DeFi magic.
With staking finally available, LINK holders can now secure the network and earn rewards — a long-awaited perk that gives a boost to this data-driven ecosystem. Chainlink is now better equipped for complex tasks, proving that it’s not just reliable but versatile too.
LINK’s price hasn’t enjoyed the same steady rise as its reputation. The token has been buffeted by volatility and competition. New oracle providers have entered the scene, and some DeFi projects are building their own oracles.
Not so stellar
XLM price Jan. 20, 2021: $0.291680
XLM price Nov. 11, 2024: $0.109166
Launched by Ripple co-founder Jed McCaleb in 2014, Stellar set out to offer quick, low-cost international transactions, connecting everyone from financial institutions to the unbanked.
Since Trump’s last term, Stellar has made strides in the central bank digital currency (CBDC) arena, particularly with its pilot project in Ukraine to test a digital version of the hryvnia.
Magazine: Real life yield farming: How tokenization is transforming lives in Africa
But Stellar’s journey hasn’t been all, well, stellar. The competition in cross-border payments has only ramped up. Governments exploring CBDCs often look toward centralized solutions or established platforms like Ethereum.
Stellar’s XLM token has suffered as the market increasingly tilts toward DeFi-focused chains with high-profile use cases. It’s dropped from the 10th spot to the 35th spot, as of Nov. 8, 2024.
The cryptocurrency exchange Binance saw significant price increases for several memecoins listed on its platform in 2024.
On Nov. 11, pseudonymous onchain analyst Ai_9684xtpa posted on X that among the 15 memecoins listed by Binance in 2024, 12 saw significant increases in value after going live on the exchange.
Memecoins like Moo deng (MOODENG), Dogwifhat (WIF) and Popcat (POPCAT) saw prices appreciate over 200% after their Binance listing, with the Neiro (NEIRO) memecoin pumping by almost 7,600% after going live on the exchange.
Memecoins listed on Binance in 2024. Source: Ai
While many of the listed tokens saw price increases, some experienced declines. Mog Coin (MOG), Myro (MYRO) and Book of Meme (BOME) all showed slight depreciation after their Binance listings.
MYRO experienced a 33.25% price decrease, while MOG and BOME decreased by 11.78% and 1.28%, respectively.
Most listed memecoins are on Solana blockchain
The onchain analyst also highlighted that 60% of the memecoins listed on Binance in 2024 were based on the Solana blockchain. Another 26.7% were on Ethereum, with the remainder split between Binance’s BNB Smart Chain and the Base network.
Among the memecoins listed in the exchange, only five are available in spot and futures trading. The onchain analyst believes that Binance is relatively cautious on spot listings.
Based on the data, the onchain analyst concluded that Binance does not seem to have a market value requirement for a memecoin listing. However, the analyst said that a common denominator between the memecoins is their popularity and communities.
Related: FTX bankruptcy estate files $1.8B lawsuit against Binance, CZ
Trump memecoins drop after election win
While the crypto market continues to show gains, Donald Trump-themed memecoins seem to have lost their appeal.
On Nov. 7, Trump-themed memecoins collapsed after the president-elect’s victory in the United States presidential election. The MAGA (TRUMP) token tanked by 53% on Nov. 7, while the MAGA Hat (MAGA) memecoin dropped by 55%. Other Trump memecoins decreased in value by 50% to 75%.
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DWF Labs has partnered with the University of California, Los Angeles (UCLA) on a new educational initiative focused on tokenized securities.
The Web3 investor and crypto market maker will be featured in a case study in the upcoming book, The STO Financial Revolution, the latest blockchain educational initiative spearheaded by UCLA faculty member and author Alex Nascimento.
Through these initiatives, DWF aims to advance institutional understanding of tokenization and security token offerings (STOs), according to Andrei Grachev, managing partner of DWF Labs.
Grachev wrote in an announcement shared with Cointelegraph:
“We are excited to share our experience and help shape the industry’s future by influencing how institutions understand and engage with digital assets and STOs.”
DWF Labs partners with UCLA. Source: DWF Labs
Tokenized securities are financial instruments minted on the blockchain ledger for increased accessibility as part of the wider real-world asset (RWA) tokenization sector — seen as the next significant opportunity in the blockchain industry.
Some of the world’s largest financial institutions and business consulting firms say the RWA sector may see a more than 50-fold increase by 2030, potentially reaching over $30 trillion.
Related: Alameda Research files $90M ‘aggressive’ lawsuit against Waves founder
Educational institutions are recognizing blockchain’s transformative potential
More educational institutions are recognizing the transformative potential of blockchain technology.
Universities are increasingly seeing blockchain as a “crucial infrastructure” for the future of financial technology for two main reasons, DWF Labs’ Grachev told Cointelegraph:
“There’s a need to equip future professionals with the skills and knowledge to navigate this blockchain-enabled economy. Secondly, institutions are responding to the demand from students and industries alike for advanced insights into blockchain’s potential to increase transparency, security, and inclusivity within financial systems.”
DWF Labs aims to continue partnering with research and educational institutions to further blockchain education among traditional and crypto firms, Grachev added.
Related: Trump’s presidency could bring SEC reform and pro-crypto regulations
RWA tokenization: the next $10 trillion blockchain opportunity?
Most firms are predicting that the RWA sector may reach a market size of between $4 trillion and $30 trillion by 2030.
RWA tokenization, market size predictions by 2030. Source: Tren Finance
If the sector were to achieve the median prediction of about $10 trillion, it would represent more than 54 times growth from its current value of around $185 billion, including the stablecoin market.
The RWA sector may start encompassing more of the global financial markets as the industry matures, reshaping how people invest, trade and own assets in financial markets, according to Tren Finance’s research report, which said:
“The integration of traditional finance with blockchain technology is not just a trend, but a fundamental shift towards a more accessible, efficient, and dynamic financial ecosystem.”
Tokenized versus untokenized market. Source: Tren Finance
Still, stablecoins continue to dominate the RWA sector, accounting for over $170 billion of the market as of October 2024. In comparison, securities and treasuries tokenized onchain are valued at $2.2 billion.
Magazine: Block by block: Blockchain technology is transforming the real estate market
(Reuters) – U.S. stock index futures rose on Monday, adding to post-election gains, while investors looked ahead to the next batch of economic data that could decide whether the equity rally can sustain itself.
Stocks that rose following the U.S. election results continued to gain. EV maker Tesla surged 7.3% in premarket trading after touching $1 trillion in market value on Friday for the first time since 2022.
Futures tracking the small-cap Russell 2000 rose 1.3%, and were still at their highest since last November, with the sector expected to be a key beneficiary of President-elect Donald Trump’s proposed tax cuts and expectations of an easier regulatory environment.
Major indexes soared in the previous week as Trump retook the White House, with the benchmark S&P 500 notching its best week in a year and briefly breaking through the 6,000 mark on Friday.
The Dow touched 44,000 points for the first time on Friday and also had its best week in more than a year.
Crypto stocks rallied as bitcoin soared past $81,000 on Monday. Coinbase Global jumped 16.8% and bitcoin miners Mara Holdings and Riot Platforms gained 19% and 13.7%, respectively.
At 5:28 a.m. ET, Dow E-minis were up 142 points, or 0.32%, S&P 500 E-minis were up 16.75 points, or 0.28%, and Nasdaq 100 E-minis were up 54.5 points, or 0.26%.
Stocks are on solid footing as the year-end nears, with the benchmark index already up 25% year-to-date as AI enthusiasm and the start of Fed rate cuts have supported an upbeat outlook.
Focus will be on consumer price inflation data, due Wednesday, as well as a raft of other key data this week for more indications on the health of the economy and outlook for interest rates.
“The actual, and expected, economic growth of the United States is the focus of the stock market,” SEB Research analysts said.
“Trump, who is expected to continuously evaluate his political actions against how the U.S. stock markets are doing, has already received a very clear and generally positive confirmation from investors for a … formulated growth-focused economic agenda for the United States.”
The Federal Reserve cut interest rates by 25 basis points as expected last week, and investors see a 68.5% chance of the same move at its December meeting, according to CME FedWatch.
(Reporting by Lisa Pauline Mattackal in Bengaluru; Editing by Shounak Dasgupta)
Bitcoin is breaking records as a weekend BTC price surge delivers almost $82,000 to start the week.
- Bitcoin traders see BTC price upside continuing despite some concerns that a retracement may reach frightening proportions.
- Macroeconomic data releases continue to come thick and fast as United States presidential election fever gives way to the ongoing inflation narrative.
- After months of frustration, Bitcoin traders are finally seeing BTC/USD catch up with gold.
- BTC price gains may be impressive, but in percentage terms, there is still a long way to go before November 2024 matches historical average gains.
- Mainstream interest is picking up, but just like in Bitcoin’s last halving year, all-time highs have not opened the floodgates to mass retail inflows — yet.
Bitcoin traders diverge over future BTC price trend
Having reached almost $82,000, Bitcoin (BTC) is starting the week with a bang as BTC price discovery takes hold.
Data from Cointelegraph Markets Pro and TradingView showed all-time highs of $81,888 hitting on Bitstamp after the weekly close.
BTC/USD 1-hour chart. Source: TradingView
While some fear that a major retracement is in the cards, an overall sense of bullishness remained the driving force among traders.
“Passive sellers still pretty active around $81.5K. Alts lacking bid momentum so far as well,” trader Skew wrote in one of his latest posts on X.
Skew suggested that the start of the TradFi trading week in Europe and the United States would further bulls’ cause, potentially validating the “out-of-hours” weekend jump to new highs.
“Bids moving higher again but still lacking the volume & momentum like previous moves up,” he said about exchange order book liquidity.
“Probably coiling into EU/US hours.”
BTC liquidation heatmap. Source: CoinGlass
Longer-timeframe perspectives favor even more intense upside, with market participants flagging the seven-month consolidation phase seen on BTC/USD after its old all-time high in March.
“Bitcoin gave everyone a chance to buy breaks from Mar-Oct ’24,” veteran trader Peter Brandt said over the weekend.
“When BTC decides to ‘Mark-Up,’ it never looks back.”
BTC/USD one-day chart. Source: Peter Brandt/X
Brandt offered a BTC price target of $125,000 by the end of the year, having previously seen $130,000 coming only in Q3 2025.
The weekly close, meanwhile, satisfied conditions for Bitcoin to enter the “parabolic phase” of its current bull run.
CPI week takes over from US Election fever
US macroeconomic data will keep risk-asset traders on their toes in the coming days, with the Federal Reserve adding nuance to financial policy expectations.
The main events are the October print of the Consumer Price Index (CPI) and Producer Price Index (PPI), both key inflation gauges.
The Fed is currently grappling with mixed signals when it comes to the US battle against inflation, having cut interest rates by 0.25% last week amid weak employment.
More jobless claims data will come on Nov. 14, along with PPI and a speech by Fed Chair Jerome Powell on the economic outlook.
“Markets will also continue to digest earnings season, the election outcome, and the Fed meeting,” trading resource The Kobeissi Letter said ahead of what it called a “very busy week.”
Fed target rate probabilities. Source: CME Group
The latest data from CME Group’s FedWatch Tool sees another 0.25% cut coming at the Fed’s next dedicated meeting on Dec. 18.
“Overall, investor sentiment and risk appetite are historically strong right now,” Kobeissi continued in an X thread on Nov. 9.
“As we head into 2025, it’s clear that the economy is slowing and fiscal policy is uncertain.”
It added that despite the S&P 500 notching its own record highs of 6,000 points last week, such strong performance is “never sustainable,” pointing to year-to-date gains of nearly 50%.
Bitcoin brings back gold competition
Longtime crypto market participants now see Bitcoin attempting to play a game of catch-up — not with stocks, but with gold.
XAU/USD began rising in advance of Bitcoin while BTC/USD languished below previous all-time highs from March.
Uploading a comparative chart to X on Nov. 11, Charles Edwards, founder of quantitative Bitcoin and digital asset fund Capriole Investments, saw bulls now rapidly redressing the balance.
“Here we go. Shared this chart a few times – Bitcoin lags Gold a few months,” he told followers.
“When the breakout happens, expect rapid repricing.”
Bitcoin vs. gold chart. Source: Charles Edwards/X
Expectations are being boosted by a Bitcoin institutional investment milestone accompanying the BTC price breakout. Last week, inflows to asset management giant BlackRock’s spot Bitcoin exchange-traded fund (ETF) surpassed those of its gold ETF.
As commentators noted, the gold ETF has been on the market about 20 years longer.
Source: Bitcoin for Freedom
Last week, trading firm QCP Capital suggested that the combination of Bitcoin ETF inflows and spot price performance may end up having a snowball effect.
“This sustained bullishness in BTC could also create a feedback loop, with rising ETF inflows boosting BTC prices, which, in turn, attracts more retail capital and systematic fund buying as volatility declines,” it told subscribers to its Telegram channel.
A November like any other?
At about 16%, Bitcoin’s month-to-date performance in November 2024 is nothing out of the ordinary.
Despite notching repeat all-time highs throughout the month, so far, BTC/USD has a long way to go to make this November stand out.
BTC/USD monthly returns (screenshot). Source: CoinGlass
Data from monitoring resource CoinGlass puts the situation in context — for instance, November 2020, Bitcoin’s last halving year, saw gains of 43%.
2017, also a year in which Bitcoin hit an all-time high in the 11th month of the year, saw a 53% November upside, while 2013 dwarfed the rest with 450% returns. Bitcoin’s worst November since then was in 2018, when it lost nearly 37%.
Thanks to such wide variations, “average” November returns stand at about 43%, leading already bullish traders to forecast more upside before the monthly close.
“$BTC next area of interest is $93k before pullback and consolidation and then $121k to complete the wave (5),” one such angle from trader Mikybull Crypto, who employed Fibonacci retracement levels, said on Nov. 11.
BTC/USD one-week chart. Source: Mikybull Crypto/X
Six-figure BTC price predictions are increasingly common, with the deadline for the historic event differing. As Cointelegraph reported, Q1 2025 is a popular target.
Crypto educator Karan Singh Arora described $100,000 as “inevitable” by the end of the year.
“$100k $BTC is less than $20k away,” fellow trader Johnny noted.
“Kinda crazy how far we’ve come.”
Mainstream mood echoes 2020 BTC price breakout
When it comes to mainstream consumer interest in Bitcoin, beyond institutions, appetite remains firmly absent.
Related: Bitcoin’s rise to $81,000 may trigger rally in ETH, SOL, SUI, AAVE
The latest data from Google Trends highlights the fact that, like in 2020, consumers are only beginning to notice BTC price performance.
“Recent spike up but still early,” analytics account Bitcoindata21 summarized on X.
“For comparison December 2020 (price discovery above $20k) closed at 35, so quite similar.”
Worldwide Google search data for “Bitcoin” (screenshot). Source: Google Trends
Previously, Cointelegraph reported on several metrics used to determine the peak of Bitcoin bull markets based on mainstream engagement. So far, none has reached “classic” blow-off top territory.
The popularity of the trading app of largest US exchange Coinbase, for example, remains far from the number one spot on Apple’s AppStore.
“Starting to move up now, as well as Robinhood, but let’s see if this move up is sustained. The app reached No.1 in December 2017, April 2021, and November 2021,” Bitcoindata21 noted.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
The DeFi liquidity protocol has already paused operations on Arbitrum and Avalanche blockchains as the team investigates the vulnerability.
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