According to BlockBeats, on November 8, Bitcoin reached new all-time highs multiple times this week, but showed no signs of 'overheating.' Several analysts pointed out that some fundamental factors suggest Bitcoin may rise further.
'From a fundamental perspective, the market does not appear to be overheating,' said Alex Thorn, head of research at Galaxy, in the market report on November 7.
Nansen's analyst Aurelie Barthere also expressed a similar view. 'Bitcoin breaking through historical highs on high trading volume is a clear sign of sustained positive momentum after the election,' Barthere explained in the market report on November 7.
Barthere pointed out that after Donald Trump won the U.S. presidential election on November 5, traders began to 're-risk,' which is reflected in the recent upward trend of the crypto market. (Cointelegraph)
