Michael Saylor, a fervent supporter of Bitcoin and the current executive chairman of MicroStrategy, appears to be anticipating that the biggest cryptocurrency in the world would soon surpass $100,000. Saylor posted a tweet after Bitcoin crossed the $92,300 mark, stating that he was "planning the Bitcoin 100k party."
The price increase of bitcoin in November
Bitcoin has shown incredible growth and durability over the last ten days, increasing by about 38% and rising from just under $65,000 to the $93,270 zone. Bitcoin rose from $86,520 to $93,274 during the overnight spike, which accounted for over 8% of the total. Following that, there was a minor decline in Bitcoin's value, which is now trading at $90,740.The dramatic shift in U.S. political leadership and the Federal Reserve's 25 basis point interest rate drop were the main drivers of the cryptocurrency's early November surge. After the initial rate cut in September, this is the second one this year. However, that one was larger, at 50 basis points. The Fed had previously allowed the most recent rate drop during the 2020 pandemic, four years prior. Although many anticipated that Bitcoin would soar in October—the month that traders have traditionally referred to as "Uptober"—the parabolic growth instead occurred in November, driving the whole cryptocurrency market. Some cryptocurrency influencers and traders have historically predicted bullish market movements this month, citing the enigmatic SHIB lead Shytoshi.