Cryptocurrency News: Cryptocurrency prices continue to trend higher in November in the wake of the U.S. election, which registered a broad victory for Republicans, with Donald Trump securing a second presidential term.
Bitcoin on Tuesday hit a new record of $94,038, CoinDesk data shows, surpassing its Nov. 13 high of $93,445. Bitcoin is now within striking distance of analysts expectations to hit $100,000 by 2025.
Meanwhile, President-elect Trump continues to expand his crypto reach, with reports that Trump Media & Technology Group is closing in on a deal to buy crypto trading firm Bakkt.
Elsewhere, bitcoin miners have rolled out mixed quarterly results in recent weeks. MARA Holdings, Hut 8, Hive Digital reported earnings last week, followed by a big miss from Bit Digital on Monday.
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Cryptocurrency Price Action
Bitcoin on Nov. 19 hit a new record of $94,038, continuing to notch new highs during the month and surpassing the prior March 14 record of $73,798.
The world's largest cryptocurrency rebounded about 157% in 2023. Bitcoin is up about 120% so far this year.
Ethereum traded around $3,090 Tuesday, with a 17% gain over the past month.
Ethereum climbed about 35% in 2024 after reaching a 52-week high of $4,090 in March. The No. 2 crypto is still well below its November 2021 peak above $4,800.
Cryptocurrency Prices Heatmap:
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Digital asset investments are extremely volatile. While cryptocurrency's fundamentals and technical indicators may differ, investors should focus on the same key objectives. First, stay protected by learning when it's time to sell, cut losses or capture profits. Second, prepare to profit if the cryptocurrency starts to rebound.
Despite their original promise, cryptocurrencies haven't acted as hedges against inflation. Instead, they've trended with the broader indexes. Read The Big Picture and Market Pulse to track daily market trends.
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