Originally published on: November 22, 2024
Bitcoin made history by recording its largest monthly candle as it approached the $100,000 mark, fueled by growing investor interest and the outcome of the recent U.S. presidential election. Following Donald Trump’s victory, the cryptocurrency industry outlook appears positive for the next four years.
In a surprising turn of events, Trump’s social media company has filed for a trademark related to cryptocurrency trading and digital wallet services. The move suggests potential ambitions in the crypto space.
Bitcoin’s price surge during November marked a significant milestone, with the cryptocurrency nearing a valuation of $100,000 for the first time. The record-breaking month saw Bitcoin’s price rise by over 40.8%, hitting an all-time high of nearly $99,000 on Bitstamp.
Analysts predict that Bitcoin could soon breach the coveted $100,000 mark as investor appetite for risk-on assets like Bitcoin continues to grow.
At the North American Blockchain Summit, CFTC Commissioner Summer Mersinger emphasized the importance of establishing standard U.S. crypto policies through regulation. The regulatory landscape is evolving, with discussions around notice and comment regulation gaining traction.
In the U.K., a draft regulatory framework for crypto assets is expected early next year, covering stablecoins, staking services, and cryptocurrency. The move aims to provide clarity and support for the growing crypto industry.
The market capitalization of AI and big data tokens has surged by 131.4% since hitting a yearly low in June, riding the wave of Bitcoin’s bull run. Tokens like Near Protocol, Internet Computer, and Render have seen significant growth, fueled by positive investor sentiment and regulatory developments.
As the week came to a close, most of the top 100 cryptocurrencies ended in the green, with MantraOM and StellarXLM tokens emerging as the biggest gainers.
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