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    Bitcoin Nears Historic $100,000 Milestone Following Trump’s Election Win and Soaring November Gains

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    Bitcoin’s price has almost reached $100,000 for the first time, increasing by over 40.8% in November, with highs of $99,000. The surge in value happened two weeks after Donald Trump’s 2024 presidential election win, triggering increased interest in Bitcoin. Stablecoin trades reached an all-time high on 22nd November, indicating potential future Bitcoin price rises. Despite current investor optimism, there is concern over cryptocurrency reliance on borrowed money and increasing greed. Industry professionals anticipate Bitcoin passing the $100,000 milestone as it offers inflation protection.

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    Bitcoin’s price has made a record-breaking jump, as it’s close to being valued at a whopping $100,000 for the first time ever.

    Bitcoin’s price skyrocketed over 40.8% in November, blowing past the previous record for the largest monthly increase. Bitcoin even hit a high of $99,000, according to Bitstamp data.

    This massive increase comes two weeks after Donald Trump won the presidential elections in 2024, leading to an increase in people looking to invest in Bitcoin.

    Many experts predict that Bitcoin will cross the $100,000 mark soon. On 22nd November, the amount of stablecoin (a type of digital currency) being traded reached a record high, which strongly suggests that Bitcoin could see further price increases as we approach 2025.

    It’s been a great month for Bitcoin and even with eight days left in November, there’s still a chance for prices to increase further. History tells us that November is often a great month for Bitcoin with average returns over 46%, according to CoinGlass data.

    Meanwhile, investor optimism is soaring, as seen from CoinMarketCap’s Crypto Fear & Greed Index. But the increasing greed among investors could mean that we might see a correction soon.

    Also, the industry is eagerly waiting for Bitcoin to hit the $100,000 mark. Given Bitcoin’s role as a protection against inflation, it’s inevitable that it will reach this milestone, says Marcin Kazmierczak, co-founder and COO of RedStone.

    But there is some worry, especially about the increasing greed and use of borrowed money in the crypto markets. On 12th November, Kris Marszalek, CEO of Crypto.com, warned that the market will need to reduce its reliance on borrowed money before Bitcoin can hit $100,000.

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