The price of Bitcoin recently reached a new record high of $93,874 on the Bitstamp exchange.
The market cap of the leading cryptocurrency has now surged to as high as $1.85 trillion, according to recent data provided by CoinGecko.
Bitcoin is now up by more than 33% during this November after adding 11% in October.
Jesse Colombo, a prominent trader, has noted that the largest cryptocurrency is currently in the process of breaking out of its triangle pattern on the four-hour chart.
If the breakout holds, Bitcoin should "run" to the much-coveted $100,000 level, according to Colombo.
Bitcoin is now breaking out of its triangle/pennant pattern on the 4-hour intraday chart.Assuming this breakout holds, it should run to $100,000+ fairly quickly.$BTC $IBIT pic.twitter.com/kx5GzNDh3U
— Jesse Colombo (@TheBubbleBubble) November 19, 2024
The most recent Bitcoin price uptick comes following the launch of spot ETF options in the US.
Asreported by U.Today, the launch of these options was described as a "paradigm shift" by cryptocurrency mogul Mike Novogratz.
