Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The price of Bitcoin recently reached a new record high of $93,874 on the Bitstamp exchange.
The market cap of the leading cryptocurrency has now surged to as high as $1.85 trillion, according to recent data provided by CoinGecko.
Bitcoin is now up by more than 33% during this November after adding 11% in October.
Jesse Colombo, a prominent trader, has noted that the largest cryptocurrency is currently in the process of breaking out of its triangle pattern on the four-hour chart.
If the breakout holds, Bitcoin should "run" to the much-coveted $100,000 level, according to Colombo.
The most recent Bitcoin price uptick comes following the launch of spot ETF options in the US.
As reported by U.Today, the launch of these options was described as a "paradigm shift" by cryptocurrency mogul Mike Novogratz.
Tomiwabold Olajide
Dan Burgin
U.Today Editorial Team
Vladislav Sopov