To say the least, it has been one hell of a week for Bitcoin and the cryptocurrency market as a whole. After Donald Trump’s victory in the 2024 presidential elections in the USA, and the Federal Reserve’s decision to lower interest rates by 0.25 bps, the crypto market has been on a tear. Bitcoin just surged to $88,000 – a remarkable achievement, considering last year’s lows in the crypto market.
At the time of writing, Bitcoin has officially surpassed silver’s market cap with its $1.736 trillion, according to the latest data from CompaniesMarketCap.
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Years ago Bitcoin predictions in the range of $100,000 and above were considered extremely optimistic and even unrealistic, but after these past few days this mark seems closer than ever. Bitcoin is up 11% for the day and over 30% in the past 7 days. The cryptocurrency market is currently valuated at $2.94 trillion after an incredible 12% surge in the past 24 hours.