Three reasons why bitcoin is actually rising (and it has nothing to do with Trump)

The surge in Bitcoin's price over the past month is astonishing. The value of digital gold is now $92,000, and unless something extraordinary happens in the market, BTC could easily surpass the $100,000 mark in November. However, this upward movement of Bitcoin is not solely driven by Donald Trump's victory in the U.S. presidential election and his plan to create a strategic reserve of 1 million bitcoins. According to analysts, there are several other key factors impacting the cryptocurrency market:

1. The halving effect. The last halving occurred in April 2024, which reduced the mining reward for a new block from 6.25 to 3.125 bitcoins. This led to a slowdown in the growth rate of the cryptocurrency supply and, consequently, an increase in price.

   

2. The introduction of the first Bitcoin ETFs in the U.S. has also contributed to increased demand for the cryptocurrency. On November 12 alone, the total volume of new investments in these funds reached $817.54 million. Additionally, since the beginning of September, BTC has outperformed the S&P 500.
3. More than 94% of all bitcoins that can be mined are already in circulation or have been permanently lost. This means that only about 1.2 million bitcoins remain that can still be mined. Such scarcity in supply also puts upward pressure on the price.