Bitcoin Tops 81,000 As Experts Call On Traders To Hold Their Positions

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• Bitcoin registered a new all-time high of 81,497 after final election results revealed that Donald Trump won all seven battleground states. Market analysts are asking traders to hold on to their BTC in anticipation of much larger highs in the coming weeks.
• BTC broke its 73,597 ATH from March on November 5, then surged past 76,000 on November 6 before hitting 77,000 on November 7 as the market grew in confidence about the future of the industry.
• Retail interest in Bitcoin is also peaking as BlackRock's IBIT spot Bitcoin ETF recorded a net daily inflow of 1.4 billion. Google Trends data showed that search interest for Bitcoin has increased, and the Fear and Greed Index for BTC currently stands at an "Extreme Greed" position.
• President-elect Trump has promised to pass pro-crypto bills to encourage innovation and growth in the sector. He is widely expected to sack current US Securities and Exchange Commission SEC chairman Gary Gensler, who has long been criticized for his anti-crypto regulatory stance.

Bitcoin BTC, the world's largest cryptocurrency by market capitalization , has been on a roll since Donald Trump was declared the winner of the U.S. presidential elections. On Sunday, the flagship digital asset topped 81,497, climbing as much as 6.1 to set yet another all-time high after the President-elect marked a clean sweep of the seven battleground states and made the biggest political comeback in history.

Bitcoin Registers New ATH At 81,497 Amid Expectations of Further Surges

Experts are anticipating Bitcoin to further upside before the 47th President takes office on January 20, 2025, as they believe that rally has just begun and has a long way to go. In an X post, Tuur Deeester, a Bitcoin expert, wrote that traders shouldn't make any impulsive moves and "HODling" will do the work for them.

HODL is a popular crypto investment strategy that involves buying digital assets and holding onto them for an extended period, regardless of market volatility. The term stands for "Hold On for Dear Life".

Crypto analytics firm Glassnode's lead analyst, James Check, also echoed the sentiment, elaborating that although Bitcoin recorded all-time highs, the distance between its price and the 200-day Moving Average DMA is still "cooled off."