BCGAME - Free 5BTC Daily Bonus!O Bitcoin Bitcoin (BTC) hit a new all-time high (ATH) today, propelling other cryptocurrencies into a bull market. Against this backdrop, one analyst noted that some data is suggesting this could be “the biggest crypto bull run ever.”
O Bitcoin price today 12/11/2024 Bitcoin is on an all-time high that has taken the largest cryptocurrency to new heights, having recently broken through the $89 barrier for the first time and inched closer to the $90 zone. In a bullish spike, Bitcoin set a new all-time high today at $89.864,13.
The market is seeing another major rally for major cryptocurrencies, with Dogecoin (DOGE) surprising investors and crypto enthusiasts after posting an impressive 45% price surge today.
Analyzing recent movements, analyst Miles Deutscher shared a list in which he highlighted some signs that indicate a stronger and more liquid market than the cryptocurrency industry has ever seen.
“This is the most obvious bullish setup any liquid market has had in YEARS. This is no exaggeration. I have the data to show you how the stars are aligning for the biggest crypto bull run EVER,” he wrote.
First and foremost, Deutscher highlighted in his list Donald Trump's electoral victory in the US presidential race, which brought a lot of confidence and regulatory optimism to the sector.
“First, the obvious, Trump’s victory. This was the final piece of the puzzle needed to solidify $BTC’s ATH breakout,” stated. “Trump’s victory finally puts an end to Operation Choke Point and opens the door to a new wave of regulatory optimism. These are the main second-order effects that are likely to unfold as a result of his victory.”
Another point mentioned by the expert is the Federal Reserve’s rate cuts. “The Fed will likely continue cutting rates. With rate cuts expected to continue through the first half of 2025, conditions seem ripe for a crypto bull run as investors shift to risk-on assets.”
It is worth remembering that the US Federal Reserve (Fed) announced, on November 7, its decision to cut interest rates by 25 basis points. The move follows a 50 basis point cut that was made in September. Bitcoin’s price reacted immediately after the Fed’s announcement, posting a significant appreciation, which is the second factor that has driven markets to epic highs in recent days.
