Yigit Taha OZTURK 
Bitcoin reached a new all-time high (ATH) of $97,000 on November 21, 2024, driven by several key factors influencing the crypto market.
Key Drivers Behind the Surge
- U.S. Presidential Election Results
The outcome of the U.S. presidential elections positively impacted the crypto markets. Donald Trump’s victory increased interest in Bitcoin, particularly among institutional investors and major players. Analysts attribute this to expectations of crypto-friendly policies during Trump’s administration, fueling confidence in the market. - Upcoming Bitcoin Halving
The next Bitcoin halving, expected in mid-2024, is another significant catalyst. Historically, halvings, which reduce the supply of new Bitcoin, have triggered substantial price increases. This has strengthened bullish sentiment among investors, who anticipate future price growth. - Superior Returns Compared to Traditional Assets
Bitcoin’s performance in 2024 has outpaced traditional financial assets, delivering returns of over 100% year-to-date. This strong performance has attracted both retail and institutional investors, driving up demand further. - Expectations of a $100K Milestone
Many analysts believe Bitcoin is on the verge of a strong breakout and predict it could soon reach the $100,000 milestone. Factors such as central banks lowering interest rates and rising demand for cryptocurrencies are likely to support this upward momentum.
Bitcoin’s impressive rally highlights its growing role as a prominent asset class, increasingly favored by investors seeking high returns and hedges against traditional market volatility.
You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.