- Bitcoin surged above $81,000 for the first time, setting new all-time highs.
- Analysts suggest holding onto assets as momentum builds, with potential for further gains.
- Market sentiment is positive, with traders citing a strong demand-driven price rise.
Bitcoin’s price surged past $81,000 for the first time on Nov. 10, continuing a remarkable upward trend following Donald Trump’s re-election as U.S. president. The cryptocurrency’s price, trading at $81,080 at publication, reached this milestone on Binance early Friday, marking several consecutive days of new highs.
Prominent Bitcoin analyst Tuur Demeester, in a recent X post, urged traders to remain patient, noting that Bitcoin’s ascent is just beginning. He recommended that investors “HODL” (hold onto their Bitcoin investments) to benefit from the cryptocurrency’s momentum. Lead analyst at Glassnode, James Check, commented that although Bitcoin has surged to new records, it remains relatively stable in relation to its 200-day moving average.
Source: Watcher Guru on X
Analysts Recommend Steady Approach as Bitcoin Soars
In a show of support for Bitcoin’s continued rise, crypto analyst Invest Answers remarked to their social media followers that the cryptocurrency market is “taking off.” Likewise, popular commentator Rain expressed a similar sentiment, signaling a strong return to the bullish trend.
Another notable trader, known as Cantonese Cat, pointed out that this rally appears to be driven by genuine demand rather than leveraged trading. This suggests that Bitcoin’s price may remain elevated due to a sustained spot supply shock rather than temporary volatility.
Positive Sentiment Fuels Further Speculation
As Bitcoin has broken past multiple previous records—$73,679 on Nov. 5, $76,000 on Nov. 6, and $77,000 on Nov. 8—market enthusiasm has grown. Hunter Horsley, CEO of Bitwise Invest, commented that when Bitcoin’s value rises, people view it as increasingly viable, which could further drive its price upward.
Analysts suggest that this positive sentiment may bolster Bitcoin’s trajectory, with the possibility of further milestones as the market enters a new era of high investor interest.
