Call 800 665 0411 to learn about our services for your stock

Bitcoin's Post-election Surge Finds Resistance at $90,000

November 12, 2024 (Investorideas.com Newswire) Investorideas.com, a go-to platform for big investing ideas releases market commentary from Quasar Elizundia, Expert Research Strategist at Pepperstone.

"Bitcoin experiences a reversal session after six consecutive days of gains, driven mainly by the victory of President-elect Donald Trump. During Tuesday's session, the cryptocurrency faces a key resistance at $90,000, a level that seems to have halted its upward momentum and favored profit-taking.

Trump's recent support for the crypto sector, with promises to make the U.S. the "crypto capital of the planet" and to create a strategic Bitcoin reserve, has been a key factor in the digital asset's advances. This political endorsement has raised expectations for more flexible industry regulations, including the potential replacement of the SEC's chair, known for a strict stance toward cryptocurrencies. In this context, the market has responded optimistically, reflected in Bitcoin's price rise to new all-time highs.

However, the environment also shows signs of greed and overbought conditions. This sentiment appears to be part of the narrative behind today's correction, with investors securing gains after the rapid price surge. Additionally, liquidations of bullish positions in Bitcoin futures have somewhat amplified the downward movements.

Markets will continue watching how the Trump administration takes shape, seeking indications of the direction cryptocurrencies may take in this new environment. Should the new administration's pro-crypto stance be confirmed, it could remain a positive catalyst for the digital asset space, driving both adoption and long-term investment. For now, Bitcoin finds itself at a standstill, as the market digests recent events and adjusts expectations for the future U.S. crypto policy."

About Investorideas.com - Big Investing Ideas

Investorideas.com is the go-to platform for big investing ideas. From breaking stock news to top-rated investing podcasts, we cover it all. Our original branded content includes podcasts such as Exploring Mining, Cleantech, Crypto Corner, Cannabis News, and the AI Eye. We also create free investor stock directories for sectors including mining, crypto, renewable energy, gaming, biotech, tech, sports and more. Public companies within the sectors we cover can use our news publishing and content creation services to help tell their story to interested investors. Paid content is always disclosed.

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact management and IR of each company directly regarding specific questions. More disclaimer info: More disclaimer and disclosure info https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

Learn more about our news, PR and social media, podcast and ticker tag services at Investorideas.com

https://www.investorideas.com/Investors/Services.asp

Learn more about digital advertising and guest posts

https://www.investorideas.com/Advertise/

Sign up for free stock news alerts at Investorideas.com

https://www.investorideas.com/Resources/Newsletter.asp

Contact Investorideas.com

800 665 0411