Bitcoin has achieved a historic milestone, printing its largest monthly candle ever as it surged toward the long-anticipated $100,000 mark.
The rally was fueled by renewed investor confidence following Donald Trump’s victory in the U.S. presidential election on November 5, coupled with bullish developments in the crypto space.
Biggest Monthly Candle, Source: Trading View
A Record-Breaking Month for Bitcoin
Bitcoin’s price climbed over 40.8% in November, marking the largest monthly gain in the cryptocurrency’s history. Data from Bitstamp reveals that BTC soared past $99,500, reaching unprecedented heights and tantalizingly close to breaking into six figures.
Source: Brave New Coin Bitcoin Liquid Index
The dramatic upswing came just weeks after Trump secured his return to the White House, reigniting interest in risk-on assets like Bitcoin. Analysts suggest Trump’s win has bolstered market confidence in part due to his administration’s pro-business stance and growing signs of institutional adoption of cryptocurrencies.
Analysts Predict $100K Breakthrough
As Bitcoin inches closer to $100,000, analysts increasingly believe the milestone is imminent. Trump’s election victory has reinvigorated market enthusiasm, with investors piling into BTC amid expectations of favorable conditions for cryptocurrencies under the new administration.
The record-setting monthly candle highlights Bitcoin’s resilience and continued appeal as a hedge against macroeconomic uncertainty, reinforcing its position as a leading asset in the evolving financial landscape. With momentum building, the six-figure valuation may be only a matter of time.
