Bitcoin, after all, continues to excite the market breaking the barrier of 79 thousand for the first time on Sunday – and approached the notable level of 80,000. dollars, thanks to many positive factors, one of which is Donald Trump’s victory in the US elections.

The cryptocurrency market is having a moment, fueled by US election results and a surge in inflows into Bitcoin ETFs.

As Bitcoin changes its bullish narrative, many market watchers and analysts are sharing their opinions and predictions. Bitcoin breaking the key $79,000 barrier is just the beginning for many in the industry.

On Sunday, November 10, the price of BTC reached $79,158 on Coinbase, setting a modern all-time high. While some investors are focusing on selling, many analysts recommend taking a conservative approach to the market and “not making any impulsive moves.”

Bitcoin analyst Tuur Demeester shared in his Twitter/X post that “HODLing” is the best Bitcoin strategy.

Bitcoin worth 79 thousand dollars, modern ATH. Calm people, this is just the beginning. It’s time to be right and keep silent. No hasty action is needed, HODLing will do the work for you. pic.twitter.com/SWBCrQovOu

— Tuur Demeester (@TuurDemeester) November 10, 2024

Analysts say to expect a bullish trend for Bitcoin

Demeester suggests that Bitcoin’s price rally is just beginning and holding on is the best strategy. He then said that now is the best time to keep silent and wait for further price action. Demeester’s recent post on Bitcoin reflects the sentiments of other Bitcoin market analysts.

Other analysts also shared the same sentiment, saying that although the asset’s value has reached an all-time high, there is still room for growth, pointing out that Bitcoin’s distance between the price and its 200-day average continues to narrow, suggesting a greater upside.

Prepared for price increases

Many cryptocurrency traders are offering a bolder stance on Bitcoin, claiming that the alpha coin is destined for pumping. They added that the price may fall next Monday or continue to rise as market demand increases.

Several gains to modern highs have highlighted Bitcoin’s recent market performance. After reaching $73,679 on November 5, the alpha cryptocurrency has surged to $76,000. dollars the next day, and then reached 77 thousand. dollars on November 8.

Looking ahead: Bitcoin’s next target is 85,000. dollars or more

Bitcoin is nothing modern when it comes to market surprises and crazy price increases. Some experts estimate that Bitcoin will reach a value of 82 thousand. up to 85 thousand dollars or even more. Analysts such as Jan Van Eck, CEO of VanEck, are making a bolder claim, suggesting that Bitcoin will soon reach 300,000. dollars.

JUST IN: VanEck says: “The value of Bitcoin will be half the value of all gold in circulation, so approximately $300,000 per #Bitcoin“

ADJUSTMENT. Bitcoin will overtake gold 🚀 pic.twitter.com/JuAohgtb6t

— Simply Bitcoin (@SimplyBitcoinTV) November 8, 2024

According to Van Eck, his price target is still conservative and he expects the coin to easily be able to approach half of gold’s total valuation.

Market data confirms Van Eck’s analysis and the forecasts of other analysts. According to recent reports, interest in Bitcoin is growing, mainly in American BTC ETFs. On November 8, the market recorded an inflow of $293 million into ETF funds, although it was one billion less than on the previous day.

Featured image from Ninja Trader, chart from TradingView