On November 20, 2024, Bitcoin reached a new all-time high (ATH) of $89,956.88, signaling a potential bull run that could push its price above $100,000 by year-end. This price surge is attributed to a favorable market sentiment following the recent U.S. presidential election, which has shifted investor focus towards risk-on assets like Bitcoin.
Analysts indicate that this increase is supported by strong buying demand, as Bitcoin consistently surpasses significant support levels, suggesting resilience against market corrections. Institutional investors are increasingly viewing Bitcoin as 'digital gold,' enhancing its appeal as a long-term investment.
On-chain metrics, including a record-high hash rate, reflect heightened miner confidence and substantial infrastructure investment, indicating strong market fundamentals. Additionally, the number of active Bitcoin addresses and transactions has surged, showcasing growing network activity.
Market analysts predict that Bitcoin's price could reach as high as $250,000 in the coming years, driven by its expanding acceptance as a global asset. This bullish sentiment is also benefiting other cryptocurrencies, such as Rexas Finance (RXS), which has raised over $6.79 million and is currently in stage five of its presale.
Rexas Finance (RXS) aims to bridge traditional banking and blockchain technology, positioning itself as a significant player in the DeFi sector. Following a successful Certik audit, investor confidence has surged, further enhancing its market visibility on platforms like CoinMarketCap and CoinGecko.
As Bitcoin leads this bull run, investors are urged to act swiftly to capitalize on the anticipated growth opportunities within the cryptocurrency market.