The world’s largest cryptocurrency spiked to new heights on Tuesday, setting an early precedent in what analysts forecast is just the beginning.

Bitcoin rose above $90,000 on Tuesday afternoon, Coinbase data shows, securing the milestone after a close call late Monday. The leading cryptocurrency broke its record for the largest single-day gain in history on Monday, as measured in U.S. dollars.

The asset is up 115% this year, more than doubling its January 1 price of $42,000. Meanwhile, crypto’s total market capitalization has peaked above $3.1 trillion, breaking its November 2021 record of approximately $3.07 trillion.

It comes amid a surge in bullish sentiment across digital assets and broader equities following President-elect Donald Trump’s successful return bid for the White House last week.

Dubbed the “Trump Trade,” analysts previously told Decrypt they view Bitcoin and digital assets as a high-conviction play, particularly following the former president’s inauguration on January 20.

“With the election overhang now behind us, the rally in crypto markets appe

Go to Source to See Full Article
Author: Sebastian Sinclair