Bitcoin's price surged to $89,444 post-election, driven by pro-crypto policies from Trump, including regulatory reforms and stablecoin support.
Bitcoin dominance hit 59%, its highest since 2021, fueled by institutional investment, policy clarity, and a growing mining network.
Mining difficulty reached 102 terahashes, signaling enhanced network security and intensified competition among miners.
Bitcoin’s price is climbing, with predictions placing its value at $180,000 as the market enters a bullish phase. The cryptocurrency’s dominance has increased to 59 percent, its highest level since March 2021. Analysts attribute this growth to a combination of institutional investment, evolving regulatory clarity, and recent political developments in the United States.
Political Shifts Boost Market Sentiment
Notably, the outcome of the U.S. presidential election has had an impact on the cryptocurrency market. President-elect Donald Trump’s pro-crypto promises have sparked investor optimism, driving Bitcoin’s price to record levels.
On election night, Bitcoin surged to $75,000 and later reached an all-time high of $89,444. Trump’s pledges to reduce regulatory barriers and revise crypto laws, such as FIT21, are expected to encourage a more favorable environment for cryptocurrencies.
Additionally, his campaign’s emphasis on allowing state-chartered banks to issue stablecoins without Federal Reserve approval has strengthened investor confidence.
https://twitter.com/WuBlockchain/status/1860257436067856413 Institutional Investment Drives Market Activity
Consequently, the surge in Bitcoin’s value aligns with increased institutional participation in the market. Major companies like MicroStrategy and Coinbase have reported substantial gains, benefiting from Bitcoin’s upward trajectory.
Moreover, institutional investors are echoing patterns observed in previous bull cycles, further solidifying Bitcoin’s position as a leading digital asset. Analysts believe that this trend could extend beyond Bitcoin, potentially boosting growth in decentralized finance (DeFi) and alternative cryptocurrencies.
Mining and Network Security Trends Reflect Strength
In addition, Bitcoin’s network has demonstrated enhanced security, with mining difficulty reaching a record 102 terahashes. This milestone underscores growing competition among miners and a robust blockchain network.
On November 18, miners transferred $181 million worth of Bitcoin to exchanges, signaling increased operational growth rather than speculative activity. These developments highlight the market’s maturity and a secure foundation for further growth.
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