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Have Fun With A Quiz in Gate Chat Group & Unlock Big Rewards!
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#LM In recent days, the prices of various cryptocurrencies have been rising. BTC briefly touched the $90,000 mark, reaching a new all-time high, and then experienced a slight decline but remained at a high level. On November 12th, local time, Trump announced that Elon Musk and Vivek Ramaswamy will jointly lead the proposed 'Department of Government Efficiency' after he assumes the presidency. After the appointment was announced, Dogecoin (DOGE), supported by Musk, continued to rise.
Many analysts believe that the recent rise of BTC is a "determined bull market", but there will still be fluctuations in the short term. From the supply side, similar to the previous halving effect, the market generally starts to pick up about half a year after the halving; from the demand side, it is widely believed that the friendly stance towards BTC by President Trump is the main reason for the rise in this round of cryptocurrency market. At the same time, the Fed's interest rate cuts and continued coin hoarding by institutions have also contributed to the market's upward trend. #BTC