The Dow and S&P 500 bounced back in late trading as investors eagerly awaited Nvidia's earnings release. The AI chipmaker's strong performance caused the stock market to rally, with other big tech companies like Apple and Meta Platforms also seeing gains. However, Target's disappointing results led to a drastic 21% drop in its stock, while Comcast's decision to spin off some of its cable channels caused a 1.5% increase in its share price. Additionally, the record-high performance of Bitcoin has given MicroStrategy a 10% jump in stock price, showing the growing influence of cryptocurrency in the business world.
On the eve of the Maharashtra Assembly election, the BJP held a press conference and accused State Congress president Nana Patole and NCP leader Supriya Sule of being involved in illegal trade of bitcoins. This comes after audio tapes and a WhatsApp chat surfaced, allegedly showing interactions between these leaders and a bitcoin dealer, Gaurav Mehta. The BJP has posed questions to the Congress and its MVA partners, questioning their involvement in the matter and demanding clarity on the issue. Ms. Sule has filed a complaint against these "fake allegations" and has approached the Cyber Crime department and the Election Commission.
A retired cop has accused Supriya Sule and Nana Patole of involvement in a 2018 bitcoin fraud case, which the BJP claims was used for campaigning in the upcoming Maharashtra polls. Sule has refuted all claims and has filed a cybercrime complaint. BJP, in turn, has presented audio clips as evidence and demands responses from the opposition. Sule has also threatened to launch a defamation notice against BJP for their "desperation" and attempts to manipulate voters.
As Bitcoin surges to a new high of $89,637, investors are attributing it to the optimism surrounding Trump's pro-crypto stance and promises to make America the "crypto capital of the planet". The surge has been dubbed the 'Trump trade', with stocks tied to the cryptocurrency market also seeing a rise. Analysts predict that Trump's potential crypto-friendly policies will lead to increased demand for digital assets and crypto-related stocks. With the talk of a crypto-friendly administration, the future of Bitcoin and other cryptocurrencies in the US market is heavily anticipated.
On the verge of reaching a record-breaking $90,000, Bitcoin has experienced a surge in value since the election of Donald Trump as U.S. president. This growth in the world's biggest cryptocurrency is largely attributed to expectations of the Trump administration being more crypto-friendly. With allies like Elon Musk's Tesla and Trump's pro-digital assets stance, investors are confident in the success of the industry under Trump's leadership. This has also lead to an increase in demand for crypto stocks and currencies, solidifying the notion of the U.S. becoming the "crypto capital of the planet".
The bullishness surrounding Bitcoin (BTC) is reaching a boiling point as the market disregards the chances of a significant price drop. BTC made daily gains of 4.5% on November 11 and is now up nearly 25% in the last week. Despite the predictions of some market participants, including popular trader known as Il Capo of Crypto, for a major capitulation, BTC/USD showed no signs of slowing down and is currently experiencing a continuous phase of price discovery. With more bid liquidity building up and no major retracements in sight, the momentum for BTC seems to be only getting stronger.
Former President Donald Trump voiced his support for Bitcoin at the 2024 conference in Nashville, Tennessee. He labeled the cryptocurrency as the future of currency, causing a surge in Bitcoin's value. This comes after Trump's recent praise for blockchain technology and his own involvement in the industry.
In a surprise victory, Donald Trump is elected for a second term as president, causing the stock market to rally with the Dow Jones, S&P 500, and Nasdaq all closing at record highs. The 10-year Treasury note also experienced a rise in yields, along with Bitcoin reaching a new record high. Republicans also flipped the Senate, while control of the House of Representatives remains uncertain. This election result is viewed as beneficial for the financial sector, with regional banks experiencing a massive rally. Tesla stock also surged, supported by Trump's policies and CEO Elon Musk's public endorsement.
In his latest video, famous crypto influencer Lark Davis makes a compelling case for why Bitcoin could reach $200,000 by 2025. Davis highlights several key factors, including the potential for a U.S. strategic Bitcoin reserve, growing support from U.S. officials, and the increasing adoption and regulation of Bitcoin by other countries. He also mentions the influence of tech giants like Microsoft, who are considering investing in Bitcoin. With these factors combined, Davis believes that a perfect storm is brewing for the future of the coin, making it an attractive investment opportunity.
The price of Bitcoin has skyrocketed past $82,000, causing excitement and greed among investors in the cryptocurrency market. The surge in price has been attributed to the growing acceptance of Bitcoin by mainstream companies and investors. With all eyes on Bitcoin, experts warn of potential risks and volatility in the market as excitement builds.