Three reasons why bitcoin is actually growing (and Trump has nothing to do with it)

The growth of the bitcoin price over the past month is staggering. The cost of digital gold is already $92 thousand, and if nothing extraordinary happens on the market, BTC can easily cross the $100 thousand mark in November. However, this upward movement of bitcoin is not only due to Donald Trump’s victory in the US presidential election and his a plan to create a strategic reserve of 1 million bitcoins. According to analysts, there are several other key factors that affect the cryptocurrency market:

The effect of halving. The last one took place in April 2024, which reduced the reward for mining of a new block has been halved from 6.25 to 3.125 bitcoins. This led to a reduction in the growth rate of cryptocurrency supply and, as a result, an increase in the price.

The emergence of the first bitcoin ETFs in the United States has also contributed to the growth in demand for cryptocurrencies. As of November 12 alone, the total volume of new investments in these funds amounted to $817.54 million. Also, since the beginning of September, BTC outpaced S&P 500 yield.

More than 94% of all bitcoins that can be mined are already in circulation or have been lost forever. This means that there are only about 1.2 million bitcoins left to mine. This limited supply also puts pressure on the price.$BTC