According to BlockBeats news, on November 8, Bitcoin set multiple historical highs this week but showed no signs of 'overheating'. Several analysts pointed out that some fundamental factors suggest Bitcoin could rise further.
'From a fundamental perspective, the market does not appear to be overheating,' said Galaxy Research Director Alex Thorn in the market report on November 7.
Aurelie Barthere, an analyst at crypto analytics firm Nansen, expressed a similar view. 'Bitcoin breaking historical highs on high trading volume is a clear signal of sustained positive momentum following 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 was reflected in the recent upward trend of the cryptocurrency market. (Cointelegraph)
